What even last 4 months prices mean for PNEBack of the envelope stuff but I reckon, taking into account the following data from their Qtr3 financials, and the fact that the monthly AECO Index through Oct to Dec 2021, was well over C$4 (and not accounting for increased production and prices for oil and NGL revenues), revenues in Q4 might approximate $20MM over Q3.
With acqun production and the prevailing Jan and future Feb/Mar prices, Q1 2022 should equate to the upper end of the Q3/Q4 average revenues.
Looks good to me.
These were hedges into 2022 at Sept qtr end:
November 1, 2021 to March 31, 2022 AECO 5,000 $3.67 $3.85
April 1, 2022 to October 31, 2022 AECO 7,500 $3.05 $3.20*
November 1, 2021 to October 31, 2022 TransGas 4,000 $4.62 $4.85
November 1, 2021 to October 31, 2022 TransGas5 5,500 AECO PLUS 22cents
November 1, 2021 to October 31,2022 Suffield#26 5,500 AECO PLUS 58cents
*pity about this one!!!!
They added these hedges by Nov 4th
November 1, 2021 to March 31, 2022 AECO 2,500 $5.15 $5.41
April 1, 2022 to October 31, 2022 AECO 5,000 $3.64 $3.82
These were realized prices in Sept qtr end:
NYMEX (US$/Mmbtu) 4.01
AECO Daily 5A (C$/Mcf) 3.58
Pine Cliff realized natural gas price (C$/Mcf) 3.43
Crude oil WTI (US$/Bbl) 70.56
Edmonton Light (C$/Bbl) 83.78
Pine Cliff realized NGL price (C$/Bbl) 50.53
Pine Cliff realized oil price (C$/Bbl) 74.94
These are changes in revenues on change in prices received:
Realized natural gas price +/-$0.10 =$3,300,000
Realized NGL price3 +/- $1.00 =$ 387,000
Realized crude oil price3 +/- $1.00 = $ 129,000