Think happy thoughts https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/how-rising-well-costs-are-reshaping-the-oil-patch/article4491408/
How rising well costs are reshaping the oil patch
"A well in western Canada today, on average, costs three times as much to drill and complete as it did six years ago (see attached Figure 1). The big ramp up in the transition period between 2004 and 2010 – from $1.3-million to $3.6-million per well – was not because of general inflation, but the quick migration into the capital-intense world of unconventional plays like shale gas and light, tight oil (LTO)." _______________________________________________
Perpetual owns a lot of Natural Gas, in the ground, which may be extracted cheaply. Right?
This give us a substantial competitive advantage? Right?
This bodes well for the future. Right?
So what's the problem?
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