据彭博新闻社2021年8月4日报道，彭博新闻能源财经（BNEF）报道说，由于全球油价上涨，美国页岩勘井公司今年将面临近120亿美元的损失。
在BNEF调查的50家美国页岩钻井公司中，德文能源公司、先锋自然资源公司和响尾蛇能源公司今年都将遭受最严重的损失，每家公司的水下对冲损失均超过10亿美元。作为一个整体，美国页岩行业对2021年预计产量的近三分之一进行了对冲，实际影响是，它们的产量将比美国基准原油西德克萨斯中质原油(WTI)每桶低5美元左右。
石油行业资深分析师、桑基研究有限责任公司创始人保罗·桑基在接受彭博电视台记者采访时说：“本季度的负面因素之一是一些可怕的对冲。”
套期保值有助于原材料生产商减轻价格大幅波动的风险，锁定相对稳定的现金流。但在牛市期间，这种做法存在把钱留在桌子上的风险。
损失并不仅限于美国页岩油钻井公司。美国最大的天然气生产商EQT公司上周在天然气价格飙升之际加大了对冲力度，这让投资者感到恼火。EQT公司第二季度在掉期和期权合约上计入了13亿美元的非现金损失。
李峻 编译自 彭博新闻社
原文如下：
Shale Drillers Leave $12B align="justify"> Shale explorers are facing almost $12 billion in losses this year from bad bets align="justify"> Of the 50 U.S. drillers surveyed by BNEF, Devon Energy Corp., Pioneer Natural Resources Co. and Diamondback Energy Inc. are align="justify"> “One of the negatives of this quarter has been some horrible hedging; guys locked in at $42 a barrel,” Paul Sankey, the veteran oil-industry analyst and founder of Sankey Research LLC, said during an interview align="justify"> Hedging helps producers of raw materials mitigate the risk of major price fluctuations and lock in relatively stable cash flows. But the practice carries the risk of leaving money align="justify"> The losses haven’t been limited to crude drillers. EQT Corp., America’s biggest natural-gas producer, irritated investors last week by boosting hedges at a time when the commodity also is surging. The company already has booked a $1.3 billion non-cash second-quarter loss on swaps and options contracts.
