RE:RE:last ten years average priceTHe point is to stop fretting about spot , and think about average price obtained before hedging as the metric that drives equity. because the underlying average has a large atandard deviation around the mean (relative to free cash flow generation, ie a 30 dolar change in average price tends to wipe out FCF) if you have high debt .
VLE has no net debt and will in fact have net cash on hand unless management does an acquisition , which i cant see given the internal growth,
VLE is therefore a relatively safe oil bet .