RE:RE:RE:UpgradeI do - do you?
Do you know what a basis swap is or how it works? Any ideas what the current the NYMEX - AECO spread is? Surely you must know that the spread is over $2.00 differential at this point and the swap is locked in at $1.09-1.15.
The NYMEX-AECO basis swaps are gaining over $2.00/Mmbtu at the moment and probably will continue to do so until the natural gas supply chain gets fixed. $1-3/BOE net hedging loss on $30+ BOE price realization is nothing.