Hedged

Energen Corp. on Monday hedged an additional 5 Bcf of its 2006 natural gas production at $7.50/Mcf and 360,000 bbl of its sour oil output at $55.21/bbl, and with the additional uncertainty of price volatility removed, raised its 2006 earnings guidance to a range of $2.55-2.75/diluted share

Devon Energy Corp. issued an updated version of its hedging transactions, including previous hedged positions and its most recent transactions, going through the rest of 2001 and into 2002.

Fort Worth, TX-based XTO Energy Inc. announced that in order to provide stability in the future, it has hedged additional natural gas volumes. The company reported it has now locked in approximately 80% of its projected 2002 natural gas production at an average NYMEX price of $3.88/Mcf.

Propelled by heavy market-on-close (MOC) buying, natural gasfutures spiked to a new all-time high yesterday, as commercialtraders hedged their financial swap positions. After gapping higheron the open, the January contract rallied to $9.90 on rumors thatthere would be commercial buying at the close. Those rumors turnedout to be true and after sinking lower for much of the session, theprompt month raced back to $9.90 moments before the closing bell.January finished at $9.83, up 50.4 cents on the day.