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Wednesday, 08/05/2015 9:59:17 PM

Wednesday, August 05, 2015 9:59:17 PM

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ERF <<< We have added additional crude oil hedge positions in the fourth quarter of 2015 and for the full year in 2016 to help support the economics of the accelerated well completions. Our total crude oil hedge position in the fourth quarter of 2015, through a combination of fixed price swaps and option structures, is now 44% of forecasted net production after royalties, at a weighted average floor price of US$80.09 per barrel. Our total crude oil hedge position in 2016, through a combination of fixed price swaps and option structures, now covers 31% of forecasted net production after royalties, at a weighted average floor price of US$64.48 per barrel. With respect to natural gas hedges for the second half of 2015, we have NYMEX swaps in place for 49% of our forecasted net production after royalties at a weighted average price of US$3.82 per Mcf. buying a little more here
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