Oil Hedges 268,800 bbls of the Corporation’s March 2012 – December 2012 forecast production at a fixed price of $121.32/bbl
500,000 bbls of the Corporation’s forecast July 2012 – June 2013 production at $113.25 / bbl
put options, at a market price, for 390,000 barrels of oil at a weighted average oil price floor of $120.24 / bbl for
the period May 2012 – February 2013.
That works out to 1,158,800 bbls for $136,129,416 or $117/ bbl
And from the most recent presentation
$224M of 2012/13 revenue (~1.95Mbbl)underpinned by hedges
That is an increase in the hedges of another 792,000 bbls at $110 /bbl
I would be nice if every company was this badly managed!