Merger of XEC into COG

[dan_s]

The merger is set to close by the end of September. This is why I believe XEC shareholders are going to love this merger.

I am expecting COG to produce over 2,350,000 mcfe per day of natural gas (mostly dry gas) in 2H 2021. < Actual production was 2,205,000 mcfepd in Q2.
Based on their 10Q filed July 30, 2021 with the SEC they have the following hedges in place for Q3 and Q4.
> 50,000 mcfpd (2.123%) hedged with Swaps at $2.74
> 450,000 mcfpd (19.149%) hedged with Collars that have ceilings with a weighted average of $3.05
In July they hedged
> For Q4 2021: 50,000 mcfpd (1.061% of 2H production) with Swaps at $4.01
> For Nov and Dec 2021: 150,000 mcfpd (2.123% of 2H production) with Swaps at $4.02
So, over 75% of their 2H 2021 gas is unhedged as of July 30.

As of July 30 NONE of COG's production is hedged after 12/31/2021

[Fraser921]

Not too shabby!! The analysts should be upgrading some of these names!

[dan_s]

The Wall Street Gang is very slow to adjust for commodity price changes AND most of them are required to value companies based on their firm's "official" commodity price deck. Natural gas price swings can be "wild" and short lived. It is a totally different market than the oil market.