RE:RE:Rig countsYou are absolutely right Matt,
That's why i wrote, there is more factors than just rig counts.
But it is still nice to see them dropping.We all now that shale depletion is very rapid.
At one point in time,rig count reduction could or should equate to less production
coming from our neighbors.
Going foreward,most importantly will be the discipline of OPEC +
Right now, we are in the sweet spot.Not to cold, not to hot(To get the politicians excited)
If we can stay in the $75US to $90US range and have crack at $45+,then i can see
SU going much higher
Right now 3-1-1 spread is $56.80
2-1-1 is $60.01
And WTI$110 in CDN
These are very, very profitable levels for Suncor
Have a nice weekend