Post by
himmler on Feb 14, 2019 9:44pm
hedges
It appears as though this company still has hedging in place..
3. FINANCIAL RISK MANAGEMENT Credit Risk The Company’s accounts receivable are with customers and joint interest partners in the petroleum and natural gas business and are subject to normal credit risks. Concentration of credit risk is mitigated by marketing to numerous purchasers under normal industry sale and payment terms. The Company routinely assesses the financial strength of its customers. The Company is exposed to certain losses in the event of non-performance by counterparties to commodity price contracts. The Company mitigates this risk by entering into transactions with highly rated financial institutions. Commodity price risk The Company has entered into financial commodity contracts which are summarized in the table below. Total Volume Hedged in the table is the annual volumes and Price is the fixed price specified in the financial commodity contracts. At September 30, 2018 the following financial commodity contracts were outstanding and recorded at estimated fair value: Total Volume Hedged (BBLS/MMBTU) Price Commodity Period ($/BBL or $/MMBTU) Oil - WTI October 1, 2018 to December 31, 2018 22,473 $54.70 Oil - WTI October 1, 2018 to December 31, 2018 5,710 $48.40 Oil - WTI January 1, 2019 to December 31, 2019 102,010 $48.40 Oil - WTI January 1, 2020 to April 30, 2020 30,920 $48.40 Oil – WTI October 1, 2018 to December 31, 2018 1,022 $51.55 Oil – WTI January 1, 2019 to October 31, 2019 3,307 $51.55 Oil – WTI October 1, 2018 to December 31, 2018 4,000 $51.07 Oil - WTI October 1, 2018 to December 31, 2018 9,000 $55.90 Oil - WTI January 1, 2019 to December 31, 2019 18,000 $54.16 Oil - WTI January 1, 2019 to December 31, 2019 18,000 $55.03 Oil - WTI October 1, 2018 to December 31, 2018 9,000 $61.08 Gas - Henry Hub October 1, 2018 to November 30, 2018 19,462 $2.90 Gas - Henry Hub October 1, 2018 to December 31, 2018 18,763 $2.93 Gas - Henry Hub January 1, 2019 to December 31, 2019 138,883 $2.93 Gas - Henry Hub January 1, 2020 to March 31, 2020 31,571 $2.93 Gas - Henry Hub October 1, 2018 to December 31, 2018 2,846 $2.91 Gas - Henry Hub January 1, 2019 to September 30, 2019 7,911 $2.91