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摘要

Placing hedges at the time of acquisition is a time-honored tool used by E&Ps when acquiring producing assets, but coming off a volatile year for both banks and A&D players, financial counterparties are more conservative on everything—particularly acquisitions."Banks are just now starting to unfreeze," says Chris Croom, president of Asset Risk Management, a Houston firm that works with producers to maximize returns on hedges. "But now that we've gone through a lower price environment, you can be sure protective hedges are associated with acquisitions to shore them up financially."