RE:RE:RE:Rig count in Canada dropped to 136 from 210 last week80% hedged for the next quarter is a conservative hedging strategy. They also have hedges going beyond winter 2018 but they will be less than 80%. Considering the spot price at the time of writing the December letter (source of the quote) was under $2, I would say their hedging strategy was doing its job.
Chris_toronto wrote: Register123 has the most ridiculous child-like arguments written in grown up language.
80% hedged for next quarter. What are they going to do after that, smart alec? Close shop and go home?
Who in their right mind invests in a business that has a 4 month time horison?
Register123 wrote: PEY apparently has around 80% of their production hedged ("Thankfully, we’ve got about 80% of our winter gas presold at $3/mcf."),
Oh, and by the way, your previous post talks about "the likelihood" they won't cut the dividend? Since the summer and I've been saying they will most definitely have to cut their dividend, likely early in 2018 after they get their option grants.
Well, smarty pants, guess what? It's early 2018. Let's see who turns out to be right.