Combination extends white-glove service and industry-leading technology into oil and gas marketing
THE WOODLANDS, Texas--AEGIS Hedging Solutions (“AEGIS”), a leader in hedging services and software for commodity markets, today announced that it has acquired Ancova Energy and its affiliates (“Ancova”). Ancova is a leading provider of oil and gas marketing services and software based in Oklahoma City.
With the acquisition, AEGIS adds colleagues with over 300 years of collective experience in developing commercial strategies for oil & gas operated and non-operated producers, originating markets, negotiating midstream and marketing agreements, and scheduling, nominating, and balancing molecules – across every major basin.
“We are excited to bring a transparent approach and deeply experienced team to oil & gas marketing,” said Bryan Sansbury, Chairman and CEO of AEGIS. “Ancova’s reputation for physical market insight and service is unmatched and its software has broken new ground in revenue and contract management.”
Ancova was founded in 2014 by former executives from Chesapeake Energy to optimize realized oil and gas prices for its customers. Ancova is not a market-maker and does not own transportation nor does it conduct proprietary trading activities.
In 2022, Ancova launched software to digitally read midstream and marketing statements and capture revenue and costs by product and by contract – increasing producer and non-operated producer visibility to realized revenues so that they can improve decision making and identify contract optimization opportunities.
“We have always admired the depth of market expertise and commitment to innovation at AEGIS,” said Max Gagliardi, Co-Founder of Ancova. “We are proud of what Ancova has become and are excited to accelerate the insights and capabilities we can bring to customers.”
Mark Edge, Co-Founder of Ancova added, “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 cultures align seamlessly, and our integrated physical and financial solution is set to redefine the industry.”
AEGIS has been named the global leader in hedging for seven consecutive years driven by its focus on increasing transparency in otherwise opaque markets. With this acquisition, AEGIS now serves nearly 550 companies exposed to volatility in the energy, refined products, metals, and agricultural markets. All active Ancova employees at closing joined AEGIS and will continue operations from Oklahoma City.