Company Peer Group Analysis - North American E&Ps: Fourth-quarter oil price volatility slams the hedge market and forces many to pause before adding to 2019 hedge
12 Apr 2019 - Upstream Companies and Transactions | Insight
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Thomas WilsonThomas WilsonAssociate Director
During the fourth quarter of 2018, the IHS Markit North American E&P peer group lowered exposure to oil hedges as oil prices faced extreme volatility. At the end of the quarter, this peer group hedged 18% of 2019 estimated oil production at an implied price of $56.49 per barrel, or just under 1.1 million barrels per day (MMb/d). This is well below the 1.7 MMb/d hedged at the same period last year. An estimated 42% of 2019 natural gas production is hedged with an implied price of $2.96/Mcf.
Article Information
Companies
Anadarko Petroleum Corporation; Antero Resources Corporation; Apache Corporation; Approach Resources Inc.; Battalion Oil Corporation; Cabot Oil & Gas Corporation; Callon Petroleum Company; Canadian Natural Resources Limited; Carrizo Oil & Gas, Inc.; Centennial Resource Development, Inc.; Chesapeake Energy Corporation; Cimarex Energy Co.; Comstock Resources Incorporated; Concho Resources Inc.; ConocoPhillips; Continental Resources, Inc.; Devon Energy Corporation; Diamondback Energy Inc.; Encana Corporation; EOG Resources Incorporated; EQT Corporation; Extraction Oil & Gas, Inc.; Gulfport Energy Corporation; Hess Corporation; Jagged Peak Energy, Inc.; Laredo Petroleum, Inc.; Marathon Petroleum Corporation; Matador Resources Company; Mesquite Energy, Inc.; Murphy Oil Corporation; Noble Energy Incorporated; Oasis Petroleum Inc.; Occidental Petroleum Corporation; Ovintiv Inc.; Parsley Energy, Inc.; PDC Energy, Inc.; Pioneer Natural Resources Company; QEP Resources, Inc.; Range Resources Corporation; SM Energy Company; Southwestern Energy Company; Whiting Petroleum Corporation; WPX Energy Inc.
Location
United States of America
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Company Peer Group Analysis - North American E&Ps: Fourth-quarter oil price volatility slams the hedge market and forces many to pause before adding to 2019 hedge