RE:RE:newsGreat to see your post Ferret.
The NG hedging last year (I think 35% of production) would definitely have helped the 2014 bottom line). Today though it would be suicide to hedge NG at these prices especially with the rig count coming off as it is. Given a hot summer however, it might impact the forwards favorably and so BIR may get their chance to establish hedges down the line. Same goes for the light oil. But it would have been nice to have been hedged in both NG and oil through this winter. Of course, “hindsight is 20/20 vision”. Having the opportunity to hedge at a good price does give one flexibility but it comes with its own set of risks
The falling rig count is bullish for NG companies. Given the Saudi news today, - their tactic to push more crude supply into global markets to hamstring Iran will push the rig count lower unless there is some development to change that policy. It will put a bid under NG long before we see the WTI price move up.