Insight
Q4 2020 Hedging update
Report summary
Improving crude futures at the end of the quarter provided operators with the first chance to lock in prices over $45/bbl since the price slump. Operators included in our hedging analysis added a net 702,000 b/d (annualised) of new oil hedges during Q4 2020, up 180% from the previous quarter. 2021 hedges comprised 80% of the new volumes. Gas hedging activity declined by 36% compared to the previous quarter with the majority of activity made up of 2022 and 2023 contracts.
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