Q4 Hedging...I crunched the numbers on what OBE gained in Q4 by not being 30% hedged like alot of banks forced other companies earlier in order to get bank debt faculty...I am came at 15M in Q4
So huge OBE doesnt have the 30% commodity hedge at lower prices done last fall.
Would have cost us at least 15M this Q. Thats how close she was boys...between great upvoming continued success for 2022 and just grinding existence....
One of the reasons I unloaded IPCO even though it also has such value...IPCO has some sh*tty hedges.
I just f*ckin hate investing in companies that are selling their barrels so cheaply in a hedge.
Hedges done at over 85 cad I think are different...sweet spot that this sh*t really makes money...85 cad plus.