Exploration & Production | Hedging | Capital Markets
Who's Hedged in 2015? Part 2
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2015 is a good year to be aggressively hedged with the sharp downturn in prices. At the extreme end, Continental Resources is nearly completely exposed to low prices, while PDC is hedged for 80% of production.
Part 1 of 2015 hedging strategies
Continental Resources sold its hedging positions to generate funds in 3Q 2014:
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PDC is well protected into 2016, with 80% of crude volumes hedged in 2015.
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Noble Energy is hedged for 35% of production in 2015, alleviating a portion of the low prices.
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Energy XXI is more secure than most, hedged for 60% of production.
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Crescent Point Energy is partially hedged in 2015, taking a longer term approach than most.
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PennWest has a similar percentage, with ~40% of its production hedged for 2015.
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