Quote:
Originally Posted by Weitz
Generally companies hedge their production (sell at fixed rate for fixed time no matter actual value) so if you’re not hedged you could be taking a beating. I’d be surprised to hear if anyone wasn’t significantly hedged in this market though.
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Yeah, your last part is what I'm looking for explanation of.
I could see getting surprised at the start of a bear market or an unforseen selloff, but I figured at this point most companies would be hedged or at least limited in their exposure to that level of pricing?
I suppose for some producers though it's tough to keep the lights on below $28 WCS even for a short period?