"As of 31 December 2021, Otto had a crude oil hedge book of 167,939 barrels of oil hedged through September 2022 via swaps, at a weighted average LLS price of US$56.36 per bbl.
The Company’s last natural gas hedge rolled off at 31 December 2021. Accordingly, the Company has no natural gas hedges as of 31 December 2021."
From Dec quarterly
167,939/3 = 56,000 hedged, which means 72,000 unhedged for the quarter ~ 60% unhedged oil production
- Total Oil (Bbls) 122,710 = $9.1M @$60.61
- Total NGLs (Bbls) 15,222 = $0.5M @$35.44
- Total Gas (Mcf) 522,044 = $2.7M @$4.52
100% unhedged gas production
- At $100 oil 60% and 40% hedged at $56 gives a price of $82 = 36% increase on price = extra $3.2M
- At $5 gas = 10% increase on price = extra $0.3M revenue
From the above, could see an extra $3.5M revenue in Q1, which means an increase in overall cash of $8.5M for the quarter (and that is not counting Eaves).
No wonder they are splurging on further drills, that if successful will further bolster cash flow.
@boysy1 how much cash you have us generating based on $100 oil for Q1 and $5 gas?
HEDGEBOOK72
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