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Whiting Petroleum Corp. Message Board

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  • billberggren billberggren Apr 26, 2004 12:38 PM Flag

    46% monthly crude hedged through Sept.

    I wish they didn't hedge at all. Or at most for way out-of-the-money hedges, to prevent disaster.
    Oil is going to stay up, when you have a large deficet, you are diluting or weakening the dollar. to compensate everything (CPI) must rise. All the gdp growth Hannity and Kudlow are drooling over is just deficet induced gdp growth.
    The only thing the deficet is good for is eating away at everyones wages without them knowing.

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    • they have a pretty good range though of 28-38. Saw Prince Bandir ( Saudi) on meet the press under heavy grilling by Russert over "secret" deal to lower oil and he said it remained consistent saudi policy (many years not just for Bush) that oil should be 22-28 and 25 is ideal. So who knows where we'll be come six months. Agree GDP and China may keep crude high but Saudi's have been consistent that too high kills the golden goose( world economies) upon which they rely for constant demand.

    • Rather than being what the company wants, hedging is often a lending requirement. Sometimes only a strong suggestion.

      Hedging at $28 up is also good insurance. As long as it is held to less than 50% of anticipated production, a great deal of up-side still remains. All of the production growth is also unhedged.

      Hedging always looks bad in good or rising markets. Anyone who's followed this business for over a couple of years will tell you that these commodity prices are never a sure bet.

 
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