Chesapeake's Gas Exposure Gets Interesting in 2012

摘要

US gas giant Chesapeake Energy made a calculated bet that natural gas prices were bottoming out near the end of 2011 and subsequently closed out all of its natural gas hedges - marking the first time in seven years that the company entered a new year completely unhedged. But while the company has a strong record of making money off its hedge book, the US' second-largest gas producer now finds itself fully exposed to the lowest-priced domestic gas market in a decade.