I guess they don't have much confidence in the strength of oil pricing going forward..
That's 40 % of their production for 2013
am I right ??
In addition, Renegade is pleased to announce that it has expanded its hedging program for 2013 and 2014. To date, Renegade has hedged oil production of 3,000 bbl/d for 2013 at an average WTI price of C$93.74/bbl and has hedged oil production of 2,000 bbl/d for 2014 at an average WTI price of C$91.32/bbl.