RE:RE:RE:RE:RE:Miniscule changes to hedgebook March to AprilThat 60% will eventually rise in all likelyhood as they keep placing hedges along the curve.
How many here would not mind $7.50US or abouts for most of what Peyto is currently producing? Regardless of where prices may go upwards further $7.50 is great as far as I am concerned.
We all know even with five rigs, 60% hedged is way above the CAPEX used by these five rigs for 2022 so it is not an issue there. Maybe it is also about the debt they still have on the books? Or maybe it is just how they feel knowing that sales are locked in and more stable projections can be made.
Here we are right in the mix of prime earnings reports going to start coming out, and NG is down 24c with interest rate hikes on the horizon.
Even though the ride will be bumpy, I have no doubt we will see Shenty's $27 in the next 12 months or so, give or take a quarter.
Debt is going to come down firmly to start, and then more rapidly depending upon pricing.
On top of this I see another dividend hike, not a ton, 2 to 3 cents more per month maybe just to get yields back up around 5%?
I also have plans so need better prices going forward.