Shale Producers Face $42 Billion In Hedging Losses ...Middle East

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Shale Producers Face $42 Billion In Hedging Losses
With earnings season underway, America’s shale producers are expected, almost across the board, to report stellar earnings, but as Bloomberg reports, they’ll also be taking huge losses from hedging against falling oil prices.  In total, BloombergNEF estimates that through next year, U.S. shale companies will face $42 billion in oil and gas hedging losses, based on 2021 data. That means that while balance sheets might remain intact, companies will spend big to exit positions.  BloombergNEF notes that Hess Corp found itself…

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