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Strategies & Market Trends : Three Amigos Stock Thread
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To: Sergio H who wrote (24912)5/8/2001 6:17:24 AM
From: Ditchdigger  Read Replies (2) of 29382
 
Good morning Sergio, $5/sh PRDS would make me very happy<g>..As to natural gas, I didn't expect to see it go to much below $4.50,,it's getting interesting..Might be time to look into whos got the proper hedges in place..As I recall CHK hedged some of their ng and oil..
"For the next eight months, Chesapeake has hedged 69% of its projected gas production via swaps at an average price of $5.31 per mcf and collars at prices ranging from $4.13 to $6.17 per mcf. In addition, Chesapeake has hedged 63% of its expected oil production for the next eight months at an average NYMEX price of $29.64 per barrel.

For 2002, Chesapeake has hedged 43% of its projected 165 bcf of gas production through swaps at an average price of $5.08 per mcf and collars at prices ranging from $4.00 to $5.53 per mcf. In addition, the company has hedged 23% of its projected 3,250 mbo of oil production at an average price of $25.15 per barrel."
biz.yahoo.com
<lol> looks like I'm not the only one looking at hedges (been awhile since I checked in on CHK)
"Monday April 30, 12:00 pm Eastern Time
RESEARCH ALERT-CSFB raises Chesapeake to strong buy
NEW YORK, April 30 (Reuters) - Credit Suisse First Boston said on Monday that it had raised its investment rating on independent natural gas producer Chesapeake Energy Corp. (NYSE:CHK - news) to strong buy from buy because of the company's active hedging plan and its rise in reserves"
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