U.S E&P Oil & Gas producers continue to take advantage of rising commodity prices, according to a new Fitch Ratings report. Fitch examined hedge books of 32 U.S. oil and gas exploration and production (E&P) companies to assess the implications for credit and price risk. Oil prices faced bullish fundamentals starting in 4Q20 and continuing through 2Q21. The West Texas Intermediate oil market continues to provide operators with opportunities to hedge spot prices above $65 per barrel (bbl) and forward prices above $60/bbl for the next 24 months, albeit in backwardation. Henry Hub natural gas prices are also supportive ... (full story)