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| Brief Excerpt: | ...Fitch Ratings examined the hedge books of 29 rated U.S. and Canadian oil and gas exploration and production (E&P) companies to assess hedge coverage as of mid-2026 and the implications for credit and price risk. The median 2H26 oil hedge coverage for oil-focused producers is 54%, excluding entirely unhedged producers, while the median 2H26 natural gas hedge coverage for gas-focused producers is higher, at 60%. Several investment-grade (IG) oil producers, along with one high-yield (HY) producer, remain fully unhedged on oil throughout 2H26 and 2027, leaving them more exposed to price downside. Strong balance sheets and business profiles help these companies absorb cash flow volatility. Fitch expects average hedging intensity to decline among North American companies if sector consolidation continues.... |
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| Report Type: | |
| Company(ies) | Occidental Petroleum Corporation
, Expand Energy Corporation
, Devon Energy Corporation
, CONOCOPHILLIPS INC
, ConocoPhillips Co
, Ovintiv Inc
, CNX RESOURCES CORPORATION
, EQT Corp
, Murphy Oil Corporation
, Continental Resources, Inc
, Cenovus Energy Inc
, California Resources Corp
, SM Energy Co
, Antero Resources Corporation
, Matador Resources Company
, Diamondback Energy, Inc.
, Diamondback O&G LLC
, Talos Energy Inc
, Northern Oil and Gas, Inc.
, Vermilion Energy Inc. |
| Issuer | W&T Offshore, Inc. |
| Format: | | PDF |  |
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