Question-and-Answer Session
Operator
At this time, we will open the floor for questions. (Operator instructions). Our first question comes from Paul Ridzon with Keybanc.
Paul Ridzon – Keybanc
Good morning. How are you?
Tom Farrell
Good morning, Paul.
Paul Ridzon – Keybanc
Had a quick question, did you indicate that Marcellus line position could eliminate the need for equity or offset the need for equity?
Tom Farrell
I say it would depend on how much was sold.
Paul Ridzon – Keybanc
Remind us what your equity forecast was.
Mark McGettrick
Equity forecast for 2010 was $250 million through our automatic plans and about a $150 million at the market.
Paul Ridzon – Keybanc
And then, did you change your language around forward guidance? In that you had marked your open position to the current strip as opposed to a point of view number that you had on net gas.
Mark McGettrick
What I mentioned there Paul was – since we got a lot of questions about gas price views and the divergence around that, what I try to do is, we still give a sensitivity per $1 move of natural gas prices and that’s $0.09.
But I referenced that at current market prices, we are still feel very comfortable with our range of $3.20 to $3.40 for 2010. So you will probably hear us referencing it to mark it in the future, so that gives you a current gauge as opposed to just a view.
Paul Ridzon – Keybanc
Just to clarify, if you took your open book market to the current strip, you will be comfortable in your range?
Mark McGettrick
Yes sir.
Paul Ridzon – Keybanc
Okay, thank you.
Operator
Thank you. Our next question comes from Jonathan Arnold with Deutsche Bank. (Operator instructions).
Tom Farrell
Welcome back, Jonathan.
Jonathan Arnold – Deutsche Bank
Thank you. Thank you, guys. Good morning. I am – just was going to pickup on the same theme as Paul did. If I heard Mark correctly, you said Mark it was – that comment around current commodity prices, you said primarily in the second half. Can I – can we read that to mean that you have pretty much closed out your first half exposure and most of your unhedged position is in the second half of 2010?
Tom Farrell
Yes, Jonathan, we have talked on a – the last couple of calls, our intent was to focus on the first half, because longer term you have a greatest chance to reach the range that we have. So we have closed out most of our hedging position for the first half, and our open positions are focused in the third and fourth quarter.
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