RE:BAYSTREET WOLFMas, yes they have started to look at 2023. Hedges page on their website below
For 2023 they are at 18% (I imagine they will target protection of 30% before end of year)
A 3 way 9,500 bbl hedge at $62/$78/$96
WTI 3-way options consist of a sold put, a bought put and a sold call. In a $62/$78/$96 example, Baytex receives WTI+$10/bbl when WTI is at or below $62/bbl; Baytex receives $78/bbl when WTI is between $62/bbl and $78/bbl; Baytex receives WTI when WTI is between $78/bbl and $96/bbl; and Baytex receives $96/bbl when WTI is above $96/bbl.
https://www.baytexenergy.com/investor/hedging.cfm masfortuna wrote: (or anybody else) Someone mentioned that BTE had initiated more hedges lately. I have been looking to see if I can find that info but I see nothing. Was that juts a rumour OR can you confirm? How much and at what level? Thx.
Mas