139 0 Kommentare HighPoint Resources Provides Summary of Hedge Position

Approximately 95% of anticipated 2020 oil volume hedged at a WTI price of $58.32 per barrel ensures certainty of cash flows

DENVER, March 12, 2020 (GLOBE NEWSWIRE) -- HighPoint Resources Corporation (“we”, “us”, or the “Company”) (NYSE: HPR) today provided a summary of the Company’s hedge position. The Company currently has approximately 95% of anticipated 2020 oil volumes hedged at a WTI price of $58.32 per barrel and nearly half of anticipated 2021 oil volumes hedged at a WTI price of $54.71 per barrel. In addition, the Company estimates that the value of its hedge portfolio is approximately $145 million based on current WTI strip prices. A full summary of the Company’s hedge position is set forth below.

Chief Executive Officer and President Scot Woodall commented, “Proactive hedging of anticipated forward oil production has been an important component of our corporate strategy to insulate against commodity price risk, to protect anticipated cash flows, and to support our capital program. This strategy has served us well and ensures a greater level of certainty to our cash flows. We remain focused on maintaining value for the long term and have reduced capital spending as part of our original 2020 operating and financial plan. In addition, we will reassess our development activity and adjust activity levels as needed to preserve our balance sheet and liquidity in this lower crude price environment.”

COMMODITY HEDGE POSITION

As of March 11, 2020, the Company had the following commodity hedge positions in place for crude oil for 2020 and 2021:

	Oil (WTI)
Period	Volume Bbls/d	Price $/Bbl
1Q20	16,500	$	59.73
2Q20	14,000	59.43
3Q20	16,750	57.18
4Q20	16,750	57.18
1Q21	9,500	54.95
2Q21	9,500	54.95
3Q21	7,000	54.39
4Q21	7,000	54.39