A major reason for our success in this low price environment has been strong hedge protection. And I might point out that in fact, we took advantage of the recent upward flip in natural gas prices to layer in yet more hedges.At the present time, APL's projected margins and cash flow, excluding ethane, are approximately 78% protected for the second half of 2012, and approximately 75% hedged in 2013. ARP is even more heavily protected. For the full period through 2016, present production is approximately 75% hedged and entirely hedged for the second half of 2012 and the entire year 2013.
Atlas Energy's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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