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Birchcliff Energy Ltd BIREF


Primary Symbol: T.BIR

Birchcliff Energy Ltd. is a Canada-based intermediate oil and gas company. The Company is engaged in exploring for, developing, and producing natural gas, light oil, condensate, and other natural gas Liquids (NGLs). The Company's operations concentrated within its core area, the Peace River Arch, which is centered northwest of Grande Prairie, Alberta, adjacent to the Alberta/British Columbia. It is focused on natural gas and light oil drilling areas in North America. The Company is focused on the Montney/Doig Resource Play within the Peace River Arch. It has 100% interest in its Pouce Coupe Gas Plant and two oil batteries, as well as various working interests in numerous other gas plants, oil batteries, compressors, facilities, and infrastructure. Pouce Coupe Gas Plant is in the heart of the Montney/Doig Resource Play. The Gordondale property is located northwest of Grande Prairie, Alberta and consists of the properties in Gordondale.


TSX:BIR - Post by User

Comment by newtonboyon Jan 25, 2024 5:06pm
155 Views
Post# 35845955

RE:nat gas inventories out..as expected BIG withdrawls

RE:nat gas inventories out..as expected BIG withdrawls

Considering the fridgid temperatures the last couple weeks in North America there better be a NG drawdown. Even the EIA gestimates (in their totally accurate weekly reports) could not state otherwise. The fact is NG remains over-abundant requardless of demand. Until producers are able to export via LNG to the Euro/Asian markets prices will remain constant, barring any well shut-ins reminiscent of the not so long ago past. I sold my last tranche of BIR today because it does not look as appealing as when they were paying the 20 cent dividend, which helped mitigate the drop in SP, to some extent. Should they have been paying such a generous quarterly yield? No way, especially being totally un-hedged. Upon watching a recent interview with Mr. Tonken, he seemed to overly explain his non hedge stance and over emphasized his reasoning to do so. They are definitely paying for it now and it would or should not surprise anyone if they cut the remaining 10 cents. Now I will say BIR is a very desirable operation with their first class infer structures and abundance of product. The price of NG will increase as NA gradually gets out of coal-fired power generation and converts to NG, which is presently happening (there remains just two coal fired Units in Alberta  which are now being converted)  plus any new gas units (Cascade 1&2). So, in the meantime theres lots to be made investing in the oil sector, at least I feel there is. In parting I must say "the road to the poor-house is paved with spot pricing".
 

 

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