RE:Undersupplied Oil MarketLet's stay closer to home.
Tourmaline run about 20% roughly of western canada gas supply.. CNQ roughly the same.. almost half.. add in ARX, PEY, BIR and a few others + privates and you get the make up.
Both TOU & CNQ are not growing gas production by the drill bit.. ARX neither (save for Attachie in a few years)..but will be exported via CGL at that time.
What does this mean? With cogen plants, coal to power conversions, cold winters, hot summers and various other demand increases for domestic gas.. AECO will be lucky to stay under $4-5 year round.. and Nov-Jan under $6..
Future looks good for Natural Gas E&P's with TOU at the top of the pack, but the best stock price appreciation are in the juniors & intermediates.. and probably ARX given their C5 exposure and current lagging share price.
retiredcf wrote: We're seeing an undersupplied oil market going forward: Bison Interests's Josh Young
Josh Young, CIO of Bison Interests, joins BNN Bloomberg for his reaction to the recent pullback in oil prices this week after OPEC+ announced they would increase production, and why he expects oil demand to outweigh supply in the year ahead.
https://www.bnnbloomberg.ca/video/we-re-seeing-an-undersupplied-oil-market-going-forward-bison-interests-s-josh-young~2245414