This has been covered extensively in older posts. You could search from posts by "Badbernanke" and "Porciuscato".
These are just accounging gains and losses that arise out of the big hedge book that LINE maintains. The book rises and falls with the prices of the commodities being hedged but the numbers are not important. What is important is free cash flow which is the actual money coming in with which LINE can pay the distribution and its expenses etc. LINE's coverage is over 1.1 and going higher.
They have tons of cash.
They are following a disciplined strategy to preserve the distribution and grow the company in the long term.
Unrealized losses are paper losses that may or may not come to fruition depending on conditions at the time the item is actually monetized. This might be gas in storage that was bought or produced at a higher cost than the hedges are contracted for, or it might be some other item such as real estate, etc.
Maybe send an email to Investor Relations and ask for a detailed explanation?
Hedges are put in to guaranty the price for your oil/gas production ...If gas/oil prices fall your hedges increase in value compensating for the low selling price ....Conversely when the selling price of oil/gas increases your hedges fall in value ,,,But you're getting the better selling price for your product sales ....The hedges are there to attempt to keep your sales income constant while pricing fluctuates...With oil at it's near term high of 75-ish, hedge values would drop and must be recorded on the books at whatever the value is. ..My understanding