Unless we have an incredibly hot summer, and I want to remind you that last summer was 22% hotter than normal, it’s likely that sometime in the late summer, we will begin seeing much higher line pressures, the in mandatory curtailments, followed by rotating shut-ins of fields all over the country. EnerVest and EVEP have been exceeding – have been – I’m sorry – have been expecting this set of events since February when it was apparent that we were experiencing the warmest winter in recorded history.Approximately 90% of EVEP’s expected production is this year and 80% next year, and I want to elaborate on that slightly in that really, 100% of our current production is hedged as well as our PDP for next year; it’s just that we continue to drill wells instead of some of those – the results from those PUDs are not hedged at this point. There’s no question, however, that all companies in the US with natural gas production will fall short of forecasts in the third and fourth quarters.
EV Energy Partners Management CEO Discusses Q1 2012 Results - Earnings Call Transcript
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