Leveraging SizePeyto needs to figure out how to sign deals at these price levels:
Since July 1, 2022, Tourmaline has continued to strategically enter into additional commodity hedges. Approximately 26% of 2023 average production is now hedged at a weighted average fixed price of CAD $5.26/mcf. Additionally, for this time frame, the Company has 110 mmcfpd of natural gas hedged at a basis to NYMEX of USD $0.12/mcf
That is fricking incredible. That's less than the toll to Empress. Someone (Large financial institution) is expecting AECO to flip to a premium to NYMEX, as the strip is currently pricing in a much wider basis.