Crew’s selling prices during the artic vortex Please let me know if I am wrong somewhere.
According to page 19 of the January corporate presentation, Crew had almost 50% of its production going to Henry hub and Chicago and a bit less than 20% going to Alliance in Q4 2020. For 2021, it is going down to 30% and 15% respectively. I do not know if February production allocation numbers are the 2021 numbers or if they are closer to the Q4 2020.
If you look at naturalgasintel.com Chicago Citygate (is it where Crew sell in Chicago?) reached price levels in excess of $120, Henry hub over $20 and Alliance over $70. Also, Crew said they are about 50% hedged.
Production these days is about 140 mmcf/d, minus half hedged. Does it means almost 35 mmcf/d could have been sold at crazy prices?
Anything wrong with my logic or calculations?