cajun in tx and gasisthefuture and wiggly..., yes, we have seen the published hedges, even broken out by quarter in 2000, but seemingly no rational person can decipher how br received less $$ for its ng in 2Q00 than its disclosed hedge price. you know, someone from br investor relations could really help out on this. he/she does not need to enter into any discussion with this board. he/she could just publish some simple facts and explanation, and let that speak for itself.
i imagine it is assumed by most of you readers that br is letting the $2.50 hedges run off and that br is getting a much higher wellhead or better market price for the unhedged ng it is selling today and in the future. a perverse thought occurred to me some weeks ago. since br has this hedge tactic (a habit i am sure some powerful manager strongly believes in and justifies strongly, factually, and politically within br management), perhaps br has continued the hedging, albeit at higher prices. so i wonder if br likes the above $4.00 prices so much now that they might have hedged the 4Q00 & 1Q01 production such that br would not have the ability to sell at top dollar this winter when/if we have the $5 to $8 dollar prices that many predict and expect with winter shortages. when i looked at the numbers from many, many other ng producers this past quarter, it was amazing how close to top dollar many of the larger ones were getting. i am not bitching. i am making reasonable statements and posing reasonalbe possibilites. investor relations should get involved on this board.
on another note it appears br has fewer or maybe no cheerleaders on this board, and that may signify a decent bottom has formed. it's good to see some pom poms have left the board. still br is isn't moving up with the rest the past few days. drilling in west africa press releases are not endearing. is that going to be LNG some day or is that for oil? if br jacks up production in the madden fields and canada fast, the analysts and shareholders will like that a lot. how hard could this be to connect the dots?