Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

RE:RE:RE:RE:Pipeline Bottlenecks

[mrbb]

Eigen337 wrote:
Scottie99, MEG has world class assets (just under 3 BILLION barrels of oil)
producing 98K bbls/d (Christina Lake {CL}) in the month of July 2018.

CL has the LOWEST operating cost in the in-situ oil sands business and will get even
BETTER as they implement SOLVENTS (propane) recovery.

MEG is a LEADER in in-situ reservoir technology extraction.

MEG has a very VALUABLE BOOKED 50K bbls/d Canadian export pipeline capacity to the US Gulf Coast
where they get WTI-like prices for the bitumen (Access Western Blend) and this is going to
100k bbls/d in summer 2020. Unfortunately, Enbridge mainlines were  filled and they could only push out 64%
of their allotted capacity in Q2/2018 although they suffered 46% apportionment.

Do not forget that the Q1/Q2/2018 financials are with HEDGES of USD 54.xx+ for WTI and USD -16.yy for
the ALL important WTI/WCS price differentials. MEG has communicated that they will do a lot
LESS hedging in the future (in 2019 and beyond) as they become CASH FLOW POSITIVE
at 113K bbls/d in 2020.

As a MEG shareholder, I will vote NO and I expect a RIVAL SUPERIOR bid offer to show up !!!

This is my opinion only.

Eigen337

yah but meg has to shell out pipeline tariff and rail road fee to get the WCS price in the US.  To get WTI, upgrading is required.  Does meg has any upgrading capability?