“Well, I think most people who have been buying oil over the course of the last couple of years were by surprise by how quickly the oil prices dropped,” Dunkerley said. “But frankly I don’t think our hedged positions have much to do with the stock performance today. We don’t hedge to speculate in the market, we hedge to reduce volatility in our financial results and that philosophy and that program is going to continue just as we are.”
He continued, “I think, where the market was reacting to is that we, to two things yesterday, we announced a good 2014 and we spoke with a great deal of confidence about 2015 and we at the same time acknowledged some revenue weakness in the first-quarter and that seems to be what caught the imagination of the market today.”
What’s Causing That Revenue Weakness In The First-Quarter?
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