Hedging is exactly that, companies pay a premium for hedge facility, whether they elect to take up the option/call depends entirely on current spot price.
My understanding it was an insurance to creditors for the Aneth production and so was sensibly hedged. Unsure if Elk is inked to any lower price ceiling than market rate, perhaps clarification on same would be nice.
Perhaps I'm reading it incorrectly
Hedging is exactly that, companies pay a premium for hedge...
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