RE:Quick MHP name all the oil/gas companies that have no hedgesCNQ, SU, POU, Bir, IMO to name a few.
POU has a little hedging going forward but not much, i don't know any other company that hedges like ARX, the have a unique hedging strategy.
I can name more companies, i just need to to think about it a bit. Tou with over 500,000 boe next year will have about 1/2 the hedging loss of ARx, Peters Projection.
To me ARx has made the 145,000 hedge boe of their 350,000 boe of production meaningless.
So ARC could potentially trade at 60% of its value, and that is where it is at right now. There is the possibility they could loose a billion in hedging losses.
I think ARC is currently trading at the right number taking their hedges into account. I do not see much upside from here.
Unless there is a drastic change in the way management operates. The damage does not end until sometime in 2024.
IMHO