Birchcliff Energy Ltd BIREF

Maybe a late winter will benefit us

[andy604]

Temperatures at Manhattan’s Central Park will drop to 9F (-13C) Friday night, and with winds picking up throughout the region it will feel much colder, according to the National Weather Service. Boston could fall to -8, while Philadelphia will reach 10 and Washington will fall to 14 degrees. Boston schools are closed for the day.

A large, low-pressure system that’s sweeping through eastern Canada is pushing the frigid air south. That same system will draw milder air north as it moves through the region.

[robert41]

These harsh temperatures mean nothing to the price of gas given how long they last... now if extreme cold lasted for a few months that might help but again it would be temporary.. egress to foreign markets and supply are the issues. Kitimat will be a game changer but it's 2 years away roughly, right now supply in North America is plentiful so no stress on the price...time to put the weather

[MrT2020]

Gas is under 3.00 so Bir will cut capex to protect the dividend and every other producer will cut at these prices too .Supply needs to be shut in and not replaced. low prices fix low prices ! 

[robert41]

Agreed... as much as I loved the no hedging strategy I really think mgmt needs to protect the company with some hedges when times are good I'm no expert but a lot of companies have done this and it looks like it will payoff in 2023. Bir is in a great position at almost debt free we don't need to f that up. It's too late for hedging now but they must be wondering if they had only hedged

[marketsense]

I think there are many of us that are questioning BIR stubborn position of no hedging. Tonkins line is the road to Hell is paved with bad hedges.   But not all hedging is bad. a lot of the "bad" hedging came from the bankers who forced debt burdened oil & gas companies to take them on during the bottom of a bear market in energy.  So what do you expect would happen

[robert41]

I agree his mantra is always the same he should explain why when gas prices are low not high. When gas prices were high I don't think anyone was taking on the hedges I haven't seen anyone with hedges over 6 bucks, 4 to high 5's seems to be the norm... good discussion... the most knowledgeable board for info seems to be peyto, posters there really know their stuff

[MrT2020]

Warming trends and above average temperatures are forecast for the next two weeks . Share prices are going lower and there will be fire sale prices on most producers. Open up the war chest and fill it with cash cows like Bir , Peyto and Pine Cliff . GL

[Cobalt]

Is it? gas is $15 in Cali how much do we sell into Cali? It is not that easy we are not getting under $3 should know where we sell the gas!

[robert41]

I checked Bir website I don't think any gas goes to cali

[PlutusofCrete]

Exaclty - none of it does...so not sure why we have posters on this board schooling others....people do your research before attacking others. Thanks Robert.