Hey Binbin,
The swaps account for approx 50% of Aneth production, so 50% is still exposed to spot rates.
Grieves is a put option so all production will be sold at spot rates.
Agreed the swaps are not ideal but we still have 50% production exposed to spot price, and as Dan has pointed out, we would not even have funding to purchase Aneth without the swap hedge (loan covenant).
Hey Binbin, The swaps account for approx 50% of Aneth...
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