McLean: CrownRock sold forward 90% of crude production entering 2008 crisis
Jay McLean · Striking Oil – CrownRock by Lime Rock Capital (EP.428) · Jan 20, 2025 · at 25:39
Jay McLean, Managing Director at Lime Rock Capital, explains how CrownRock avoided bankruptcy during the 2008 oil price collapse through proactive hedging.
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“We had already sold forward in the financial markets, 90% of our next year's crude oil production, so we had a lot of ballast and resiliency through that period.”
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