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Penn West Petroleum Ltd. Message Board

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  • al_la_ca Dec 27, 2006 2:40 AM Flag

    Oil, gas getting crushed. PWE up ?

    Penn West recently entered into additional AECO natural gas collars on 80,000 gigajoules ("GJ") per day (equivalent to approximately 73 mmcf per day) for the 10-month period from January 1 to October 31, 2007. These collars were transacted with an average floor price of CDN$7.00 per GJ (approximately CDN$7.63 per mcf) and an average ceiling price of CDN$8.89 per GJ (approximately CDN$9.69 per mcf). The volume hedged by these contracts represents approximately 25 percent of Penn West's expected natural gas production, after royalties, for the contracted period. Total production hedged for the 2007 calendar year, after royalties, is now approximately 34%.

1.7075-0.0025(-0.15%)10:06 AMEDT