Energen Corp. on Tuesday forecast earnings in the range of $4.65-4.85/share in 2006, assuming that average New York Mercantile Exchange prices for unhedged natural gas will average $6.15/Mcf and oil production will average $35/bbl. Energen has hedged 10% of its estimated 2006 gas production and increased its oil hedge position.
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Fitch Lowers Ratings on Kerr-McGee, Citing Weaker, Unhedged Production
Fitch has downgraded the ratings on some of Kerr-McGee Corp’s debt, citing a weaker-than-expected 2002 production forecast, a lack of hedged production and a poor titanium dioxide market.
Fitch Lowers Ratings on Kerr-McGee, Citing Weaker, Unhedged Production
Fitch has downgraded the ratings on some of Kerr-McGee Corp’s debt, citing a weaker-than-expected 2002 production forecast, a lack of hedged production and a poor titanium dioxide market.
MCN Margins Fall, Customers Default
Unseasonally high natural gas prices have narrowed margins andcaused defaults by unhedged marketer customers, resulting in a$24.4 million second quarter loss for MCN Energy Group’s energymarketing division.
MCN Margins Fall, Customers Default
Unseasonally high natural gas prices have narrowed margins andcaused defaults by unhedged marketer customers, resulting in a$24.4 million second quarter loss for MCN Energy Group’s energymarketing division.