ADX ups its hedges

AUSTRALIA-based European oil producer, ADX Energy, has further hedged its oil price bets, securing two fixed-price contracts with BP of around 200 barrels per day at an average oil price of US$68.87 per barrel.

ADX ups its hedges ADX ups its hedges ADX ups its hedges ADX ups its hedges ADX ups its hedges

The new price compares to the previous average hedged oil price position of US$43.05/bbl, however it is still below the current oil price of US$75/bbl.