ssn are currently hedged at $6mcf.
However the upside is new wells. any future wells will be unhedged and the gas price at opal SuX.
The last few weeks it has averaged 1/3 of the price of Henry Hub, on the 5th it hit a low of 65c mcf. That is less than 10% of Henry Hub. I beleive it is due to limited pipeline capacity. Over the next two years things should improve as the rockies express takes shape. That is why I am cautious about SSN
Cheers
