RE:RE:ARC Hedged POU is also almost unhedged when it gets into Q4, the hedges they have are very high prices, i am very disappointed with the hedging strategy of ARX, but i guess it is only my way of thinking, it is more of an income averaging strategy, the issue it smear bad prices into other years. Does not show a lot of confidence in underlying commodity.
ERF has all their gas basically unhedged and getting NMYEX prices.
IMHO