US gas producers are set to book billions of dollars in hedging losses next year because they hedged most of their 2022 production before the recent energy crunch caused gas prices to soar, a Rystad Energy analysis reveals.
The reason behind the expected losses is that the operators had already hedged more than half of their 2022 production by the time they reported their second-quarter results, when prices were trading much lower than the currently inflated levels.
By the end of September, as much as 64% of their projected production was hedged.
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