PNE Hedge PositionPNE had:
1) approx 30% of its gas hedged in Q3.
2) 10% of Gas into Q4 (the bulk of contracts expire on Oct 31) the remaining hedge average is about $3.4/GJ
To the best of my knowledge PNE remains unhedged for the majority of the the remaining production. I have not come across any hedging data other than what is in the presentation.
But I believe management is extremely bullish for this winter... and I can certainly see why. It is likely they will remain exposed to current pricing as a bold strategy.
I am projecting north of 20 Million in funds flow in Q4... before any explosions upward in domestic pricing!!! The ratcheting up of pricing as discussed in an earlier post would be additional gravy to the robust cash flows projected.