Fooled by false bottom, most US shale firms skip hedging in Q4
For cash-strapped drillers, hedging may have become too expensive, say analysts
New York
Last October, as US oil prices seemed to be stabilising around US$45 a barrel, some bullish traders chuckled at the notion of US shale firms racing to hedge production at what they thought was the bottom of a 19-month rout.
Now, a handful of producers, such as Anadarko Petroleum, which sporadically hedges in large chunks every few quarters, and, surprisingly, natural gas giant Chesapeake Energy, may have the last laugh.
They were among the few to …
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