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Parallel Petroleum Chooses Triple Point Technology

GRC Announcements | November 3, 2008

Triple Point Technology, a provider of multi-market commodity and enterprise risk management software solutions, announced that Parallel Petroleum Corporation, an independent oil and gas company, has selected Triple Points Commodity XL for Fair Value Disclosure to provide credit-adjusted mark-to-market and fair-value-level assignment for its energy commodity derivative transactions.

Parallel uses financial collars and swaps to hedge price movements in natural gas and crude oil. Triple Points fair-value disclosure software provides the company with the tools and systems to ensure consistency and comparability of fair-value measurements and the disclosure of credit-adjusted mark-to-market assumptions and valuations for both assets and liabilities by counterparty. Additionally, Triple Point provides Level-3 roll-forward activity and schedules and...

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