New to CPG I have dipped my toe into the CPG world, and this is my preliminary view, and maybe you guys can help me.
Kaybob Duvernay
It looks to me like that is like a triple home run, my concern is the lack of capital tha that is directed to the play area and i think it is the most valuable asset that CPG holds, Shell would of over engineered everything, and likely a lot of low cost half cycle opportunity there.
Why are they farming in here, when they are the #1 land holder on the best acerage.Don't they have enough to do on their own 100% lands.
Hedges
I love the hedges they put in place, it will cost them a bit but they are pretty well done.
Sask
If i were them i would peel off some of the sask properties, and take a more agressive stab at the balance sheet.
It looks really cheap to me here, and the CF is amazing, what is their 1.0 CF target that they are pursuing.
IMHO