Birchcliff Energy Ltd T.BIR

However

[shenty46]

However every oil and gas stock is falling, yet I think while the ng prices were quite high few months back, they should have hedged some of the production, as some time gambling on totally being unhedged may backfire, if there is a warm winter

[Burgersandfries]

Agreed Jeff should have built in a little insurance and hedged half of the production for 6 months

[PlutusofCrete]

but guys....Jeff said hedging leads to hell.....I don't wanna go there.  Let's pray this unhedged position pays off....looking forward to a nice polar vortex this winter. 

[robert41]

So does not hedging when prices were high. Jeff must see this as a short term down swing and beleives higher prices will be back. This new virus is a wild card that isn't helping confidence either. As far as the cold winter thesis which seems to be what the pundits are saying....probably will end up being warmer than expected. Expect the unexpected. My investment here is based on long term not

[Oldnagger]

With low debt to cashflows , there is no need to hedge. The futures markets and the options market are both basically zero sum gambling markets. Birchcliff is able to spend their full time concentrating on operational , financial and other share holder return issues without the distraction of the futures markets which are in turn subject to massive manipulation.  IF investors believe thy can

[ghostzapper]

3 things peeked my interest in BIR - low cost producer - doesn't hedge - focus on moving to net debt zero A feedback circle ......action -> results -> action -> results and so on.  Your focus on shareholders increases when you don't have to invest so much time on your hedging and banking relationships. 

[Dragon1]

Yup,companies with large hedging positions lost bigtime over the last year.NG demand will be up in Asia,Europe and the US over the mid term and I just recently reinvested in BIR and I'm quite comfortable holding several O&G producers.