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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: Re: Hedges - rebels1

Jun 02, 2009 06:35AM
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Re: Hedges - rebels1

in response to by
posted on Jun 02, 2009 11:24AM

rebels1;

I agree with everything in your post except the following:

"If you look at the information from the Q1 report below,you'll notice that CLL can survive fiscal year 2009 with oil at $45 U.S WTI. If you look at the information you'll see the first hedge ending in August 2009 for $46 second ending Dec 2009 $49.50 and that if I'm reading it correctly only 2500 bbl/d or roughly 33% of current production is committed" - rebels1

My interpretation is that 2500bbl/d of production is hedged until August 30th and an additional 2500bbl/d of additional production concurrently is hedged until December 30. So Connacher has hedged 50% of its production until August 30th and then 25% after that until December 30th. I agree with you that this was a smart move at the time and it still may be a smart move if oil tests $40 a barrel again in the near future before the next run up.



Best Wishes; Scott


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