AEGIS Hedging Solutions elevates its industry standing and acquires Ancova Energy to enhance oil and gas marketing expertise. The strategic move sees AEGIS integrating the expertise of the Ancova team, boasting a cumulative experience of over 300 years in formulating commercial strategies for both oil and gas producers, as well as non-ops. Also, Ancova specializes in originating markets, negotiating midstream and marketing agreements, and handling the intricate processes of scheduling, nominating, and balancing molecules across major basins.
AEGIS Acquires Ancova Energy, Strengthens Position in Oil and Gas Marketing
Bryan Sansbury, Chairman and CEO of AEGIS, expressed enthusiasm about the acquisition, stating, “We are excited to bring a transparent approach and deeply experienced team to oil & gas marketing. Ancova’s reputation for physical market insight and service is extraordinary, and its software has broken new ground in revenue and contract management.”
So, established in 2014 by former executives from Chesapeake Energy, Ancova has been dedicated to optimizing realized oil and gas prices for its customers. Notably, Ancova distinguishes itself by not being a market-maker and abstaining from ownership of transportation or engagement in proprietary trading activities.
Max Gagliardi, Co-Founder of Ancova, commented on the acquisition, saying, “We have always admired the depth of market expertise and commitment to innovation at AEGIS. We are proud of what Ancova has become and are excited to accelerate the insights and capabilities we can bring to customers.”
Also, Mark Edge, Co-Founder of Ancova, highlighted the cultural alignment between the two companies, stating, “From the first day we met, it was clear AEGIS and Ancova shared the same focus on providing white glove service and industry-leading technology. Our culture matches perfectly, and our integrated physical and financial offer will redefine the industry.”
Post-acquisition, AEGIS now extends its services to nearly 550 companies exposed to volatility in the energy, refined products, metals, and agricultural markets. All existing Ancova employees have seamlessly transitioned to AEGIS and will continue their operations from the Oklahoma City location.
The acquisition marks a significant step for AEGIS in enhancing its market presence and expanding its capabilities in the ever-evolving landscape of energy risk management. Also, stay updated with the Latest Broker News.