Losing Quarter They lost money last quarter. Also, the wti daily average was only $5 difference between Q3 and Q4, at best they break even. Mark my words, if there is a profit it will be very slight and the stock won't bounce. You are conflating January prices with Q4 prices, Q4 prices are about $4 to $5 higher on average, I can show you the chart but a simple Google search will prove and show this. He, hedging 4th quarter will help them somewhat but prices weren't high enough to get the $52 a barrel. Now Q1 they get slashed again because prices are over $52 a barrel.
$45 is the break even point. Oil averages $40 in Q4, do the math. My numbers are spot on. It's going to be a losing quarter.