Hedging or not...It depends on the price... at 100$US WTI, go ahead and take hedges for a few bbl/d with mid return or lower return !
I don't think WTI will hit 150$US permanently, probably a short term period this year.
As BSW says, this will help to protect and maintain a sustainable dividend , help pay part of the CAPEX at very low risk !!!
It's boring when a company stops the dividend ! S/P normally falls like a rock !!!
When major producers will start to increase their CAPEX (after mid 2023, my target), we may see more stability for the WTI (95$ to 105$) !
But for my point of view, Nat gas boe/d at 85% of actual henry Hub price sound a good idea !
Only my O !