RE:RE:I Think BIR Management Executed Very Well Until....Might as well toss in TOU's Hedging Strategy as well: Since July 1, 2022, Tourmaline has continued to strategically enter into additional commodity hedges. Approximately 26% of 2023 average production is now hedged at a weighted average fixed price of CAD $5.26/mcf. Additionally, for this time frame, the Company has 110 mmcfpd of natural gas hedged at a basis to NYMEX of USD $0.12/mcf.
Since July 1, 2022, Tourmaline has continued to capitalize on strong LNG prices and has entered into an additional 20 mmcfpd of JKM hedges for April to October 2023, and 20 mmcfpd for April to October 2024. This provides fixed price protection on a portion of Tourmaline’s 140 mmcfpd Gulf Coast LNG deal which commences on January 1, 2023. The 2023 JKM strip price was $50.46 US/mmbtu as of September 6, 2022