I wrote a detailed post about why the Cardium inventory of drilling locations at petyo is thin. there aren't enough of them.
I explained why. And I explained that even management believed this.
another poster here said the Cardium plan could carry Peyto to the "promised land"
of milk and honey.
but now it looks like this other poster has "changed his tune". Perhaps after
"studying" all the evidence. (and posts on this board)....
So what did peyto do?
they bought liquids rich LAND that hopefully has more drilling locations.
if they "liked" the cardium as much as they say they do they would have bought
More land in the ADB, which is their comfort zone. they did not.
but it looks like they are going to drill cardium through 1st half of 2019 and
then "move on"....
watch what they do.
not what they say
and what others say....
the interesting thing to me is what peyto is doing and when?
when did peyto begin to figure out that diversifying where they sell their
gas was a "good" idea? in the last six months.
when did their CLOSE peers figure it out? YEARS AGO....
when did peyto begin to figure out that having liquids rich assets in your bag
was a good thing? about six months ago.
when did their CLOSE peers figure this out? YEARS AGO.....
life is not always a ROMANTIC bowl of cherries. And a romanticized telling of what Peyto has
done over the last six months might make for a good netflix "romcom"
but it probably won't make for a very good assesment of REALITY....
ps: beware of those who say peyto has a DUVERNAY plan.
don't count your "chickens" before they hatch....