US oil and natural gas producers are rushing to lock in higher prices for their future output as they seek to capitalize on the stronger oil price environment to protect their cash flows. Permian Basin-focused Pioneer Natural Resources hedged an additional 59,000 barrels of oil per day and 83 million cubic feet of natural gas per day in the third quarter, while Hess expanded its hedging program to cover all of its US crude production for the rest of the year.
US oil, gas explorers ramp up hedging amid higher prices
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