Claytie sold his 2011/2012 oil hedges for $50 million profit.Good move.A bird in the hand is worth two in the bush.He marches to the beat of his own drummer for sure.
He did not sell the hedges he bought the hedges back !!!Gordon
Clue me in. Why would it go up over $5...Thanks
Yhey said the $50 million woud go towary debt reduction =Reduction in risk.I think the stock market was concerned that they expanding with borrowed money, always a risk.Plus IMO i see oil prices staying firm to up over the coming years.