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Wall Street Piles on Natural Gas Stock Bearishness

EQT receives 93% of its overall production from natural gas, and reduced its hedging to 42% from 49% of assets as of year-end 2011.

Southwestern receives 100% of its production from natural gas, and reduced its hedging program to 46% from 50% of assets at year-end 2011.

PetroQuest receives 81% of its production from natural gas and reduced its hedging program to 13% from 18% of assets at year-end.

Comstock Resources has no hedging, and Chesapeake reduced its hedging program from 40% to nothing at year-end.

Cimarex Energy receives 56% of its production from natural gas and reduced its hedging from 6% to nothing at year-end.

Among the largest producers of natural gas that significantly lowered hedging like Chesapeake are:

Exco Resources (EXCO): 98% natural gas production and a hedging reduction from 58% to 40%.

Bill Barrett (BBG), 92% production from natural gas and a hedging program reduction from 68% to 39%.

Newfield Exploration: 61% natural gas production and a hedging decrease from 72% to 57%.

-- Written by Eric Rosenbaum from New York.


>To contact the writer of this article, click here: Eric Rosenbaum.

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COG $29.23 0.27%
CHK $16.43 -1.00%
CRK $5.37 4.50%
EQT $82.54 2.30%
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