Insight
Q1 2022 Hedging update
Report summary
The 50 operators included in our hedging peer group added 71 kb/d in new crude protections and 2 bcfd in new gas protections during Q1. This represents the lowest level of quarterly hedging activity since we began tracking hedges in 2016. We expect a lower level of activity in the near future as widening price backwardation has lessened the appeal of locking in commodity prices. Our peer group currently holds hedge contracts covering 23% of expected 2022 full year crude production and 8% of 2023 crude production.
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