DALLAS, Texas, July 26, 2005 — Allegro Development announced it has been selected by Hydrocarbon Exchange Corporation to supply its industry-leading Allegro v.7 energy software in support of Hydrocarbon Exchange’s natural gas operations and risk management strategies.
The company markets gas in Texas, Oklahoma and Louisiana, and currently owns and/or controls in excess of 200,000 MMBtu’s per day delivered into various interstate and intrastate pipeline systems in the three-state area. Hydrocarbon Exchange places a primary focus on its intrastate gas marketing services including gas marketing strategies, nomination, accounting and imbalance management and multiple pricing options. The Company’s asset base is strategically placed to serve small commercial and industrial end-users in the Texas market via the intrastate pipeline system.
Hydrocarbon Exchange required a flexible and scalable, multi-commodity solution that would provide comprehensive decision support and end-to-end integration of physical and financial information including transactions, logistics, settlement, inventory, and production. The Company also needed the ability to drill down into each area of focus to improve productivity and more accurately predict trends, events and prices. Additionally, it was vital to select a system with robust functionality to capture and manage all contract information across the enterprise, and throughout the entire contract lifecycle.
“Allegro’s technology approach of mix and match software components that are highly integrated will allow Hydrocarbon Exchange users to easily and rapidly drill down and isolate key information required during critical processes,” said Scott Hopkins, president of Hydrocarbon Exchange. “In addition, the ability to view specific contract information in real time to build reports on contractual relationships and potential contract exposures as well as the ability to track and manage processes such as credit and management approvals, will improve our ability to respond to immediate market opportunities and support our future growth objectives.”
Allegro v.7 functionality met Hydrocarbon Exchange’s unique requirements for:
* Enhanced decision support through delivery of real-time information to track transactions and more accurately forecast volumes,
* Performance and profitability improvements resulting from greater visibility and understanding of market exposures and the portfolio impact of potential market conditions and events, and
* Increased operational efficiencies by streamlining accounting processes such as settlement, net valuation, accounting and invoicing more timely, efficient and free of errors.
Allegro’s modular, component software architecture integrates all physical and financial information, including data and documentation on product purchases, inventories, production output and allocations, transport, contracts, counterparty credit, portfolio positions, product sales and more
About Allegro Development [ www.allegrodev.com ]
Allegro Development designs and delivers energy trading, transport and risk management software that gives traders, risk managers, and other decision-makers fully scalable, flexible solutions that are easy to integrate, deploy and modify – enabling companies throughout the energy industry to gain compelling advantages while keeping pace with volatile markets and emerging strategies. Allegro advantages include more accurate understandings of market dynamics and risk, unprecedented efficiencies and collaboration among teams across the enterprise, full integration of physical product management and financial transactions, and more. Now in its seventh major generation over 20 years, leading energy companies worldwide rely on Allegro.