Yes it's not good but at least they are 65% hedged for four years at $6+ so all is not lost - and although these prices are forecast to last until the end of next year there must be a turnaround at some stage as most producers would hardly be profitable at the current price.
Drilling moratorium in NY State not helping either - so it's hard for them to generate any interest in their stock.
Also almost impossible for them to do any new deals as Macquarie unlikely to lend them the money as the economics wouldn't justify it.
But still think this is a well managed stock that has a future.
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