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Nighthawk Energy declares details of its current crude oil hedges


Published Dec 5, 2014
Nighthawk Energy

Nighthawk Energy plc announces details of its current crude oil hedges.

Highlights

• Nighthawk has recently instituted a new commodity hedging program. The use of financial derivatives, which is common in the US energy markets, will allow Nighthawk to provide more certainty around its future drilling programs and cash liquidity • A total of 364,940 barrels are currently hedged via NYMEX- WTI crude oil swaps over the period December 2014 to November 2017 inclusive, at an average NYMEX-WTI price of $74.70 per barrel. Within this total amount, 291,360 barrels are hedged in calendar 2015 at an average NYMEX-WTI price of $74.55 per barrel, which is equivalent to approximately 50% of the Company's expected total oil sales on a net basis for calendar 2014

(Nighthawk has an average Net Revenue Interest of approximately 81.5% in the gross oil production)

Tags: Nighthawk Energy plc




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