Oil Hedges Worth A Third Of Denbury’s Market Cap
Some E&P companies have a lot of their net worth tied up in oil hedges, and they’ll need to put those assets to good use to survive a difficult couple of years
Denbury Resources’ 2015/2016 oil hedges are now worth a third of its much reduced market cap, and while that’s the largest from among major exploration & production (E&P) companies, many of its peers have hedges worth more than 10% of their market cap as well. Now the question is . . .
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