AEGIS Hedging acquires Ancova Energy
AEGIS Hedging Solutions today announced that it has acquired Ancova Energy and its affiliates. Ancova is a 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 producers and non-ops, 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 marekting,” 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 or conduct proprietary trading activities.
“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 culture matches perfectly and our integrated physical and financial offer will redefine the industry.”
With the acquisition, AEGIS now serves nearly 550 companies exposed to volatility in the energy, refined products, metals and agricultural markets. All current Ancova employees joined AEGIS at closing and will continue to operate from Oklahoma City.