RE:57% of 290 million = 165 millionAs you stated unhedged flow would be 455 (290+165) and losses were 165: 165/455=36%
So no CPG didn't throw away 57% of its available cash flow.
soundandfury wrote: Cpg hedge loss is 57% of its free cash flow generation in q1
soundandfury wrote:
Cpg lost $165 million on its hedge book......so cpg threw away 57% of its available cash flow to some unknown entity who happened to be brave enough to buy wti crude swaps that cpg sold.........57%.........with no hedges cpg free cash in q1 would have been 455 million........but wait there is more good news ......cpg still has over 300 million in unrealized hedge losses to come