I too was disappointed by the hedging of production at $75 per barrel which seemed that they caught the bottom almost perfectly which was exactly the wrong thing to do (from memory).
However when I re-read the Q2'23 report I now wonder whether the "6.2 MMBOE at $75.2 per barrel" means it is not as bad as it looks?
I.e we're hedging BOE not barrels, for a barrel price?
One would think they should be the same, but in reality LNG - gas- oil sell for different prices per unit of mass and per unit of energy, etc.
Just wondering, any oil experts out there who can shed light?
Woodside, page-1558
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