NYSE:OVV - Post Discussion
Post by
exprohibition18 on May 27, 2020 7:29am
EQT shuts in 1.2 bcf per day
Nat gas the big wild card for these guys as fundamentals have improved dramatically with associated gas slowdown , Capex dwindling . And OVV one of the largest ng producers
yesterdsy it was EQT that announced massive shut in of dry gas production - 1.2 bcf per day !
OVV has large oil hedges for remainder of year . A prudent move . It means sleeping at night when WTI traded $ 20 or less with the short blitz on our stock and also means our immediate earnings will not benefit as much if oil does go to $45 quickly - a good existential trade off no matter what transpires from here
however nat gas upside plus 2021 strip improvements will offer possible tremendous leverage that is not present now on remainder of 2020 product pricing . No complaints here . But folks need to realize that Q2 cannot repeat the homerun from q1 if prices stay where they are right now .
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