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Coquest Structured Products, LLC. (Coquest Financial Services, Inc. – General Partner) , was established to offer risk management services and related structured products, primarily to small and mid-sized oil and gas producers and operators, refiners, and end-users. The company was formed as a result of a combination of efforts by John Vassallo, President, Coquest, Inc. and subsidiaries, and Norman L. Young, who had previously headed up the marketing of energy derivatives for Torch Energy Marketing, Inc. and EOTT Energy Corporation.
Both John Vassallo and Norman Young had recognized that, in the energy industry, smaller producers and end-users typically experience difficulty in hedging price-risk due to volumetric constraints. As a result, they cannot go to large financial houses that typically only handle large-volume trades. Accordingly, Coquest Structured Products, LLC. was set up to specifically serve smaller customers.