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To: victorw who wrote (81377)12/12/2000 10:23:22 AM
From: Tommaso  Respond to of 95453
 
I don't think they hedge at all. But the distributions lag the actual income by two months. Also, they get wellhead prices, not gate prices at the major distribution points. And HGT gets (I think) something less than 100% of the wellhead price.

Nevertheless, it's hard to understand the lack of movement in HGT. Obviously distributions will be much larger in coming months.