AEGIS Hedging Solutions announced today that it has acquired Ancova Energy and its subsidiaries. Ancova is an Oklahoma City-based provider of oil and gas marketing services and software.
With the acquisition, AEGIS adds colleagues with over 300 years of collective experience in developing commercial strategies for oil and gas producers and non-oil and gas producers, source markets, negotiating midstream agreements and marketing and planning, appointing and balancing molecules — in every major basin. .
“We are excited to offer a transparent approach and a deeply experienced team to the oil and gas market,” said Bryan Sansbury, President and CEO of AEGIS. “Ancova’s reputation for physical market intelligence and services is unmatched, and its software has broken new ground in revenue and contract management.”
Ancova was founded in 2014 by former Chesapeake Energy executives to optimize real-time oil and gas prices for its customers. Ancova is not a broker and does not own transport or carry out proprietary commercial 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 that AEGIS and Ancova shared the same focus on providing white glove services and industry leading technology. Our culture is a perfect fit and our integrated physical and financial offering 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 upon closing and will continue to operate out of Oklahoma City.