hedging – Oil & Gas 360

Oil companies hedging less future production as crude prices rise

March 15, 2022

World Oil (Bloomberg) — Even before Russia’s invasion of Ukraine sent shockwaves through the oil market, U.S. shale producers—financially fit again and egged on by investors looking for more commodity exposure—had been exiting their price hedges for months. Now, with oil closing above $100 a barrel every single day this month, the era of shale producers selling a significant share of future output

Timing is right for natural gas rally. Unfortunately, oil still struggles: Webcast-oil and gas 360

Timing is right for natural gas rally. Unfortunately, oil still struggles: Webcast Replay

October 7, 2020

Replay our Webcast for clarity on the natural gas winter outlook, hedging tactics for oil demand uncertainty, and trends in upstream M&A. In AEGIS Hedging October 6 Webcast, our experts provided clarity on the winter outlook for natural gas and how things could go wrong, discussed hedging methods that mitigate against the oil demand uncertainty, and addressed recent trends and

Occidental's Q4 Earnings- oil and gas 360

The real price of Occidental’s ‘costless’ oil hedge

January 13, 2020

Reuters In just 12 days, Occidental Petroleum Corp pulled off one of the biggest hedges against falling oil prices ever placed by a U.S. energy company. It characterized the transaction as “costless” but a Reuters review of regulatory filings, market data and interviews shows that’s not the whole story. The aim of the complex financial maneuver, the company said, was

Ring Energy, Inc. announces completion of fall 2019 redetermination of its senior credit facility

December 2, 2019

Oil and Gas 360 Company Enters into Additional Hedges for 2020 Ring Energy, Inc. -Midland, Texas- (NYSE American: REI) (“Ring”) (“Company”) announced today it completed the scheduled fall 2019 redetermination evaluation of its $1 billion senior credit facility. The Company entered into an amendment to the senior credit facility as part of the scheduled fall redetermination. The amendment reaffirmed the

Antero Monetizes Hedge Portfolio for $357 Million

December 18, 2018

Paying down debt with cash, share buybacks continue Antero Resources (ticker: AR) announced it has monetized a portion of its hedge position today, taking advantage of the recent shifts in gas prices. Antero sold part of its hedge portfolio by an early settlement of 68% of its swaps for April through December and replaced the volumes with collars. This sale

OPEC’s Abu Dhabi Meeting: We Will Need “New Strategies to Balance the Market” in 2019 - Oil & Gas 360

Growth in Tight Oil Shakes Up Oil Futures Markets and Hedging Needs

September 7, 2018

From Bloomberg Declines in open interest of WTI forward contracts seen: CFTC Shale boom has shifted producers’ need to hedge farther out The vibrations of the shale boom are now shaking the futures market. A visible decline in open interest of West Texas Intermediate crude futures contracts for delivery five or more years in the future is due to the

Futures Curve with Severe Backwardation is Laughable: Papa

May 9, 2018

CDEV likes oil’s prospects and New Mexico well results Centennial Resource Development, Inc. (ticker: CDEV) reported a net income of $66.1 million, or $0.25 per share for Q1 2018. The company’s average daily net production was 54,069 BOEPD for the quarter. “We saw consistent well performance during the quarter, with the average well producing approximately 1,200 barrels of oil per

Pioneer Selling Oil at Premium Pricing, Looks to Add 250-275 Wells to Production in 2018

May 3, 2018

Forecasts cashflow of approximately $3.2 billion at current strip prices for the remainder of 2018 – $66 per barrel for oil and $2.80 per Mcf for natural gas Running 20 Permian Hz rigs Pioneer Natural Resources Company (ticker: PXD) reported Q1 2018 net income of $178 million, or $1.04 per diluted share. Companywide production was 312 MBOEPD in the quarter,

Oil Hedges: Brazil and Mexico

March 28, 2018

Brazil’s state-controlled oil company, Petrobras, has hedged a portion of its 2018 oil production. The move should protect cash flow against downturns in the marketplace. Bloomberg reported that the company hedged 128 MMBbls, or 350,685 BOPD at an average Brent price of $65/bbl. The average cost, a company filing on Wednesday said, is about $3.48 a barrel. Petrobras has become

Whiting Petroleum: 2018 CapEx of $750 Million, 100-Plus Wells Planned

February 23, 2018

Whiting Petroleum (ticker: WLL) has a 2018 capital budget of $750 million, of which $600 million will be invested in Williston Basin operations. The capital budget forecasts a production growth of 9% from Q4 2017 to Q4 2018, with an estimated average annual production of 128,400 BOEPD. In the Williston Basin alone, production is forecasted to grow 14% from Q4

Carrizo Oil & Gas Discusses Operations After Harvey, Updates Hedging

October 5, 2017

Eagle Ford and Permian producer Carrizo Oil & Gas, Inc. (ticker: CRZO) reiterated that its operations in the Eagle Ford shale sustained no damage as a result of Hurricane Harvey, and drilling and completion operations returned to normal within a week. A temporary reduction in sales volumes did occur as a result of downtime at third-party midstream facilities and Gulf Coast refineries, but production and sales

Thick Hedge Book and New Pipelines Power Antero Resources into 2016

January 14, 2016

Hedge book’s mark-to-market value listed at $3.1 billion Attractive hedges have the ability to make a significant impact on company balance sheets, and its positive effects (along with access to favorably priced markets) are apparent in a January 13 business update from Antero Resources (ticker: AR). The Appalachia-focused producer reported a realized natural gas price (after settled commodity derivatives) of

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