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Thursday, 10 November 2016

Independent US oil producers increase hedges for 2017

Independent US oil producers increase hedges for 2017:
"US independent oil producers have taken advantage of the recent bump in crude prices to lock in future revenues, building up derivatives positions for 2017.

In third-quarter earnings reports over the past three weeks, several US exploration and production companies said they had hedged significantly more of their expected oil sales for the coming year than they had done at the equivalent point of 2015 in preparation for this year.

The additional protection from hedges will support cash flows and investment plans even if crude prices continue to weaken, helping to sustain US oil production."

'via Blog this'