U.S. Natural Gas Producers Face Billions In Hedging Losses In 2022 [Yahoo! Finance News]
CNX Resources Corporation (CNX)
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Source: Yahoo! Finance News
US gas producers are set to book billions of dollars in hedging losses next year because they hedged most of their 2022 production before the recent energy crunch caused gas prices to soar, a Rystad analysis reveals.The analysis zooms in on a peer group of shale-gas-focused producers that accounts for 35% of unconventional gas production and about 53% of shale gas production in the US Land region this year. These 11 operators stand to lose more than $5 billion in 2022 if the average Henry Hub price strip remains at $4 per MMBtu – an amount that could double if Henry Hub prices average $5 per MMBtu.The reason behind the expected losses is that the operators had already hedged more than half of their 2022 production by the time they reported their second-quarter results, when prices were trading much lower than the currently inflated levels. By the end of September, as much as 64% of their projected production was hedged.To complete the picture and look beyond our research group, tight
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