RE:May be highest everGood call I trust. Looks like natgas is bound to stay at these levels ($5.50-$6.25 NIT) as we go into winter and, more particularly, TOU's statement that they will not be shunting gas thru Hub as they send more to Cheniere in 2022 for latter's LNG.
BIR has not been hedged and is not hedged so makes comparisons easier. If oil and gas stay at these levels all existing hedges will see greater (un)/realised losses for others. I came out of AAV and into BIR and trust BIR will reduce debt even more than estimated with ~$37MM to $40MM more revs per qtr (at these prices)