RE:RE:No SupportI agree with you estevan.
A company like PNE with such a massive well count of low producing ng wells should imo always have 68-80% hedged at over 3 dollar gas. Its the downside of pricing cycle that really hurts companis like PNE.
From sounds of it, finally looks like PNE will hedge further out to future.
I suspect divy was left at .5 cents to try support stock at 60-75 cents through this low point of aeco.
When Aeco was low in 2019 this was a under 30 cent stock.
The problem is ARO obligations dont stop even if NG prices are low. 8-10m in reclimation is like one quarter of cf for PNE if run like Q4 2023. CF was very low in Q4