"The hedging for 2013 will drag on the stock unless/until prices rise" - For this year:http://www.fool.com/investing/general/2012/02/23/commodity-h... UPL has hedged 27.3 billion cubic feet of nat gas production at $5.03 in Q1 with volume hedged nearly doubling in subsequent quarters - total hedged for 2012 is 184.1 billion cubic feet at $4.43. They've cut production so any hedges in place are going to be increasingly significant. Is it possible this is underappreciated? -jandctl
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