wonder if there is any counterparty risk in those hedges ?
On Oct 24, 9:53 am, Larry <[EMAIL PROTECTED]> wrote:
> XTO is looking good with 70% of their 2009 production hedged at $11.00
> mcf when the current natural gas prices are around $6.00
>
> XTO Energy Increases Commodity Price Hedges; Approximately 70% of 2009
> Projected Production Now Hedged
> Friday October 24, 8:30 am ET
>
> FORT WORTH, Texas, Oct. 24 /PRNewswire-FirstCall/ -- XTO Energy Inc.
> (NYSE: XTO - News) today updated its price hedges for future sales of
> natural gas and oil production for 2009 and 2010.
> "We have now hedged approximately 70% of our expected production in
> 2009 at an equivalent price of $11.00 per Mcfe. Given these hedges and
> the current commodity strip pricing, XTO anticipates record cash flow
> and production volumes with the financial strength to reduce debt by
> at least $1 billion next year," stated Bob R. Simpson, Chairman and
> Chief Executive Officer. "With our focus on delivering performance,
> particularly in these challenging times, we will continue to look for
> opportunities to increase our hedge position."
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