RE:Europe's Gas Storage Empties At Fastest Rate Since 2016In Q3 VET produced an average of 116.66 MMcf a day of natural gas in Europe.
About 56.5 million of their gas is hedged at an average price of 14.63 cent. (Quarter 4 2024)
Roughly 60 MMcf/day unhedged portion (Subject to produciton issues based on Q3)
TTF price per (Megawatt hour) = 47.811 euro or $70.76 Canadian
1 MMcf of gas = 293.05 Megawatt hours = $20,736 Canadian Dollars MMcf /day
60 MMCF of gas = 1,244,160 dollars a day. (30% higher cashflow compared to hedged volumes)
This equates to about $20.736 mcf of gas. (6 dollars a mcf in addition cf, essentially fcf, from unhedged volumes.)
Europe 157 million FFO and 114 million FCF were realized in Q3.
The current gas price is adding in FFO = (6* 60 MMcf) or about 360,000 dollars day in term of FCF maybe higher royalities say to be safe 300,000 a day.
Just from gas Europe ONLY FCF should be at least 27 million higher in terms of Q4 european gas.
FFO could be about 30 million higher just from the unhedged european gas in Q4.
This does not account for Wandoo full production in Q4 or Croatia over 2000, boe a day.
Q4 is going to be a big quarter for Europe.
Europe gas prices equate to $124 dollars a boe of gas.
This is what happens when your on the right end of the LNG shipments.
(This does not factor in any improvement in Canadian market in Q4)
IMHO