RE:RE:RE:RE:Is OVV a better place to be....
Super post. It is hard to remember that there were some periods of negative oil and gas prices early last year when covid shut down everything. Locking in survival of the company was not necessarily a bad plan. Their realized prices will go up, just slower than the spot prices. And if spot prices start to drop, their relaized prices will be higher than spot proces (for a while) and they will book some hedging gains. No one will complain at that time.
Still it is hard at the worst of it to be to be selling your gas and condensate for $63.47 and getting $52.39 after hedging losses. Those are Q2 numbers for OVV. 52.39 was still a good enough price to generate robust free cash flow. And the and the realized price after hedges should tick up sequentially as the hedges are rolled forward - if prices stay where they are.