Birchcliff Energy Ltd T.BIR

Natural gas plunges 11% on demand-killing US weather outlook

[PlutusofCrete]

All good...the cold will come eventually...BIR will still be debt free years sooner than planned. 

Stay the course. 

https://www.bnnbloomberg.ca/natural-gas-plunges-11-on-demand-killing-u-s-weather-outlook-1.1688454

[barneyj44]

Birchcliff held up well today considering being unhedged and NG down 11%.

[mjh9413]

But all (Dawn, HH, AECO 5) all well above BIR's q4 estimates and financial targets still intact eom

[llerrad5]

My source sugests come Dec 15 we will see very cold weather engulf the lower 48. After that rinse, wash and repeat right through April A very cold winter. The warm air has penetrated the artic vortex causing spilage into Europe and Asia. The warm air is expcted to penatrate on the other side of the votex then causing spilage into North America. The warm air patern is already setting up

[PlutusofCrete]

I bought 200 shares at $6.61 and 200 at $6.41.  Will continue to add on weakness. 

[barneyj44]

My buy was 500 at $6.53, wish I had the guts to by more but thats what got me into trouble before trying to catch falling knives.

[PlutusofCrete]

I would love to buy more but I ran into the same situation as you back in 2017-2018.  My plan is to just add in 200-500 share increments whenever there is weakness.  Been doing that all year and thankfully it has worked out. Slow and steady. 

[brian0672]

Your situation sounds so familiar.  Took me years to recover from 2017-2018.

[mjh9413]

Re: natgas prices in North America: I would simply harp back to the attractiveness of LNG exports (have you seen the global price levels being paid in Europe, Asia) from N.A, and TOU's explicit statement that they will be diverting their gases to these deals from AECO. Temps here are one thing but natgas levels in storage are even now below last year and more or less just equal to the 5 year