Risked Revenue Energy Associates (R^2) is a risk management consulting firm that provides analytical support and hedging expertise to businesses that strive for industry leading performance in their hedge programs. R^2 consulting experts assist senior staff in the development of their hedge programs by identifying appropriate and efficient hedge strategies that match hedge performance to budgetary objectives. 

Wayne Penello is Founder of Risked Revenue Energy Associates (R^2). He has 25 years of market-making, option trading and asset management experience in the energy industry. He began his career on the New York Mercantile Exchange (NYMEX), where he was a market maker and served as Ring Chairman of options trading. Later, he accepted a position with Vitol S.A., in Geneva, Switzerland, managing a portfolio of globally distributed energy assets. After returning to the U.S., he managed the trading and marketing desks for Tenneco Gas Marketing and Torch Energy. He resigned from Torch Energy in 2001 to develop his own consulting business. R^2 uses proprietary analytics as a decision tool to support hedge programs. R^2 also develops solutions for corporations that wish to enter, optimize or exit the energy trading/marketing arena. Wayne was formerly a research scientist and holds a Masters degree in Marine Sciences from Stony Brook University and an undergraduate degree in Marine Biology from Southampton College.

Andrew Furman has 20 years of experience in energy trading and is an expert at valuing and trading options. Mr. Furman was co-founder and CEO of Atlantic Capital Consultants, an options market-making firm on the NYMEX from 1987 - 2001. At Atlantic, he was responsible for overseeing the trading strategies and performance of 13 traders. Andy has trained numerous traders that are currently Commodity Portfolio executives at major U.S. and International Banks. After leaving the NYMEX trading floor in 2001, Mr. Furman traded for hedge funds. Most recently, he held the position of Managing Director for Hudson Capital Group, LLC where as Manager and Trader for Energy Futures and Options he used spread arbitrage and option strategies to achieve consistent profitability. Mr Furman holds a Bachelor of Science degree in Chemical Engineering from MIT.

Bill Spijkerman has over 12 years of experience in the energy industry in deal origination and trading. He is an expert in translating customer needs into unique commercial solutions. Prior to joining R^2, Mr. Spijkerman served in management positions for several energy related firms, most recently as Director of western markets for Houston Energy Services Company where he managed all aspects of its natural gas business including supply and risk management. He has worked very closely with large commercial and industrial end-use clients throughout his career to structure suitable sales agreements. Mr. Spijkerman has served in management capacity for Xcel Energy (NYSE: XEL), Enermetrix and as an independent consultant. He holds a Bachelors of Arts degree in Economics from Texas Tech University.

Julia B. Tamm Ph.D. has 12 years experience providing financial engineering support for major energy trading operations. She is an expert in the application of risk methodologies to energy portfolios and in mathematical techniques for the generation of forward price curves. Previously she was a senior consultant at Strategic Decisions Group. She has worked at ARCO Oil and Gas, Tenneco Energy, Unocal Corp, Coopers & Lybrand and Analytic Risk Solutions (which merged with Strategic Decisions Group in September, 2001). Julia holds Ph.D. and Masters degrees in Operations Research from the Colorado School of Mines and an undergraduate degree in Mathematics from Harvey Mudd College.

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