Can anyone help me understand CE1's hedging. I am very confused as to how much of their production is currently hedged at the moment. I understand that they had hedged 50% of their production as required by their debt facility, but because of the capital raise, they are no longer obligated to hedge 50% of their production. However, according to their recent quarterly, they still have some risk mitigation contracts (note figure) for April 2022 to December 2022.
I am very confused by this table. Is it saying that CE1 will sell 1066 bbl WTI at $88.97/bbl and 1082 bbl WCS at WCS/WTI differential $17.81/bbl and 1932 Gj AECO at $2.99/Gj of its 4300 BOE/d production every single day until December?
Can anyone help me understand CE1's hedging. I am very confused...
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