RE:RE:Pioneer selling for 60B U.S. /82B Canadian
Their not buying Pioneer for the Gas, and in fact Exxon came out not that long ago asking the U.S. administration to stop flaring in the Permian.
Maybe its the enormus amount of water they are producing with those wells in the Permian?
SU is double the oil production, of Pioneer, SCO premium consistent quality cude, once the refiners get hooked on it they will never go back.
Suncor has some of the best refineries, with very high run rates. A huge gas station network, 1600, just valued at close to 10 billion dollars.
Refining and marketing contributed more than 1/4 or about 518 million in net earning in Q2
So it must be the Liberal Party discount, and their destruction of value of oil and gas assets in Canada.
Suncor in my opinion is worth in my opinion 2X what Pioneer is worth, and the gas Pioneer produces I don't value it at all.
IMHO