RE:RE:Jeff Tonkin is an O&G financial wizardYou don't remember 2020 and 2021? Every oil and gas producer I owned had posters screaming bloody blue murder and wanting every ceo fired ......for hedging. Because the price of oil and natgas was higher than the hedge prices. In most cases, the ceo hedged because they were forced to do so by the covenants in their debt agreements. Soon as the debt was paid down and/or hedges were no longer mandatory, every company let the hedge book run off. Some even took big writeoffs to payoff the hedge book losses just to shut up the screaming shareholders. So fast forward to today and the commodity prices are lower than any old hedges and we are still complaining about hedges, but the exact opposite predicament. It's almost funny. So .... careful what you wish for. Next, we'll return to nobody wanting hedging ever again. One thing is for sure, anyone that does guess right gets zero credit for it. If we were 100% hedged at higher prices, it would, correctly, be seen as temporary and bir stock would be down just like all the others that didn't hedge.