“We needed a fully functional and integrated trading and risk management solution to optimize and automate where possible our manual, spreadsheet-based business processes and to improve real-time controls and reporting. Our objective was to deliver a solution that would maximize operational efficiency across the Trading business, while at the same time provide an infrastructure that would minimize and control levels of operational risk. The flexibility and extensibility of the Allegro product allows Bord Gáis Éireann to effectively and efficiently manage our various cross commodity business processes, including those more unique aspects of our operations.”

Bord Gáis Éireann

Genesis Energy Selects Allegro Energy Trading and Risk Management Solution

Allegro 8 to Improve Efficiency and Transparency into Crude Oil and Refined Products Operations

DALLAS, TX, May 20, 2010 – Allegro Development Corp., the leading provider of energy trading and risk management (ETRM) solutions, announced today that Genesis Energy, L.P. has selected the Allegro 8 platform to manage their crude oil gathering and refined products operations.  The Allegro solution will provide Genesis with improved visibility into crude purchases, physical logistics, refiner services, storage and hedging activities along with the flexibility to scale with the company’s planned future growth.

Genesis Energy is a growth-oriented master limited partnership focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States. Genesis has a diverse portfolio of operations and assets, including sulfur removal refinery services, pipelines, storage tanks and terminals, trucks, and barges.

Genesis was seeking a single, robust platform to manage their lease crude purchasing and revenue distribution as well as their petroleum products and storage businesses. Allegro 8 offers:

  • Improvements in speed and accuracy in the management of divisions of interest (DOIs) and revenue distribution to royalty interest owners.
  • More effective hedging by the petroleum products and storage groups in trading around heavy liquids and storage assets with derivatives transactions.
  • The ability to fully integrate with Oracle Financials (using Allegro’s ERP Connect) to streamline operations and improve overall visibility.

“We require a platform that can most effectively manage our diverse operations and provide the enterprise-wide visibility our business demands.   Allegro is that solution,” said Genesis Energy CFO, Bob Deere. “Allegro’s architecture and depth of functionality will allow us to scale our business as we continue to execute on our growth strategy.”

“We are pleased that midstream oil and gas companies like Genesis Energy continue to select Allegro,” said Eldon Klaassen, Allegro Chairman and CEO.  “Our solution gives Genesis the tools they need to improve profitability and increase operational efficiency.  Gaining efficiency during a time of rapid growth is not always easy, and Allegro 8 will help to enable that growth at Genesis.”

About Genesis Energy

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas.  Genesis engages in operations  in four business segments. The Pipeline Transportation Division is engaged in the pipeline transportation of crude oil and carbon dioxide. The Refinery Services Division primarily processes sour gas streams to remove sulfur at refining operations, principally located in Texas, Louisiana, and Arkansas. The Supply and Logistics Division is engaged in the transportation, storage and supply of energy products, including crude oil and refined products. The Industrial Gases Division produces and supplies industrial gases such as carbon dioxide and syngas.  Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, and Florida.

About Allegro Development

Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 27 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities.  Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney, and Zurich, along with a global network of partners.

For further information please contact Christie Lindstrom at media@allegrodev.com or +1.214.237.8117.

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