|
Natural Gas Hedging Contracts
|
Volume (MMcf)
|
Daily Volume (Mcfed)
|
Effective Price (1)
|
% of 2009 Q3 Production
|
|
4Q Swaps & Collars (2)
|
6,256
|
68
|
$6.24
|
76%
|
|
2009
|
6,256
|
68
|
$6.24
|
76%
|
|
1Q Swaps & Collars (2)
|
5,760
|
64
|
$6.19
|
70%
|
|
2Q Swaps & Collars (2)
|
5,278
|
58
|
$5.56
|
64%
|
|
3Q Swaps & Collars (2)
|
4,600
|
50
|
$5.83
|
56%
|
|
4Q Swaps & Collars
|
4,416
|
48
|
$6.04
|
54%
|
|
2010
|
20,054
|
55
|
$5.91
|
61%
|
|
2011
|
11,765
|
32
|
$6.32
|
36%
|
|
2012
|
7,963
|
22
|
$6.52
|
24%
|
-----------------------------
(1) Effective price is weighted average of gas hedged at HSC and WAHA basis
(2) Includes $3 puts on 10,000 MMbtus/d, Dec. 2009; $3.75 puts on 10,000 MMbtus/d Dec. 2009; $4.35 puts on 20 MMbtus/d April 2010 to October 2010; $4 puts on 5 MMbtus/d Q2 2010; $4.50 puts on 10 MMbtus/d Q3 2010
|
