RE:RE:RE:RE:RE:RE:Yield"and why would they cut the dividend when they have free cash flow in 2019."
margin compression; they're trucking the stuff, that's as bad as it gets;
note the PR mensions $15usd margin compression into Q4 - take that off the netbacks and you can see that cash flow will suffer, unless spreads bounce back; on top of it, light spreads have widened to ridiculous levels - notice condensate and lights down just yesterday (yes, one day) by 7-10 bucks - which would be insane, if it wasn't real .. what hurts CJ the most, IMO, is they're mid-teer and they don't have access, never mind the mix;
full disclosure - I'm just a casual observer, my DD consists mostly of browsing Stockhouse on breaks; I was long going into this morning, but bailed first thing; got back in only few days ago, fortunately, after a quarter absence, but I did not sleep all that great last night after the NR - even co's like TOG and WCP which both have better pricing protection due to access, as well as better mix, have taken a beating today, so relatively speaking CJ down less than 10% is actually a good day, IMO; what puzzles me is that BIR didn't budge today, PEY actually went up, even though BIR is very wet and AECO is at zero yesterday; either PEY is getting shorted, or their hedges are really good; as for BIR, i'm confused, frankly; but I digress
GLT all longs