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re: Continental Resources unwinds its crude hedges - takes $433MM gain, goes naked
Posted on 11/6/14 at 4:14 pm to sneakytiger
Posted on 11/6/14 at 4:14 pm to sneakytiger
Unhedged, but I wouldn't necessarily call this naked. They do own the oil after all.
Still, he's taking on someone with much deeper pockets. He does have a set.
Still, he's taking on someone with much deeper pockets. He does have a set.
1
Posted on 11/6/14 at 5:40 pm to Iowa Golfer
quote:
They do own the oil after all.
Which they will continue to incur costs to produce, transport and market if under a contractual supply commitment or the carry to park in storage. They are straight up long physical crude. Sounds nekkid to me
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