Insight
Gas-hedging activity spikes in Q3 on improving prices
Report summary
In the most active quarter for gas-hedging since we began tracking derivatives, operators added over 7 bcf/d in new gas hedges . Leading Appalachian producers are now hedged at 80% of expected 2021 gas production on average. Oil hedges were up just 17%. Operators in our analysis are approaching the new year with just 11% of expected 2021 crude production hedged. We expect oil hedging will remain muted through the rest of 2020 as operators look to 2021 for a potential post-vaccine price recovery.
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