said in October that the vast majority of its hedges would roll off by Jan 1.
Effectively, this is a calculated bet that gas will fall to a certain level and no further. But when it falls below the predicted lower price, it takes away some of the benefits of the hedge., for example, bought puts for 900 million cubic feet at $3.40 per million cubic feet , while also selling puts for $2.50 mmcf for the first quarter, according to a November presentation.
Little late after they made record profits
The gas producers didn’t do it Your government manipulated the prices and then blamed the the hard working guys on the ground
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