Risk Management Firm Set Up by Hadson, New Jersey Firm / for Energy Industry

By Robinson, Robin | THE JOURNAL RECORD, June 19, 1987 | Go to article overview

Risk Management Firm Set Up by Hadson, New Jersey Firm / for Energy Industry


Robinson, Robin, THE JOURNAL RECORD


An energy risk management company has been formed through a joint venture between Oklahoma City-based Hadson Corp. and Mount Lucas Associates Inc., a Princeton, N.J.-based firm specializing in the development and administration of energy risk management programs for the energy industry, the firms announced Thursday.

Hadson Energy Risk Management Inc. will provide industry participants with recently developed "Energy Asset Insurance" programs, said Stephen W. Houghton, president and chief executive officer of Hadson.

The joint venture with Mount Lucas Associates "places Hadson in a leading position in the new and emerging energy futures market in oil, refined products and natural gas," Houghton said.

"The purpose of the joint venture is to combine Hadson's knowledge of the energy market place with the energy risk management programs designed by Mount Lucas Associates and Hadson," Houghton said.

The programs use options and futures in mathematical formulas authored by Mount Lucas Associates to develop investment strategies for managing portfolios. Mount Lucas Associates worked on the formulas for their risk management programs for 1 1/2 years by using historical data to study the market performance.

"We saw a need in the energy industry for people to gain a handle on the risk on both the producer's and consumer's side," said Mark Stratton, vice president of Mount Lucas Associates. "We're matching players in the oil business, the physical end users to the producers."

The new company will construct guarantee arrangements by use of the futures market, options market or physicals market and combine these arrangements. To reduce the risk management company's exposure, it will try to find clients to purchase a reciprocal guarantee, Stratton said. …

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