What a volatile bloodbath!Interesting times to be sure! How much more volatile and crazy can the market get before settling down again?
Oil prices moving around several percentage points a day and oil stocks floating around seemingly rudderless! Spin the wheel and take your chances seems to be the name of the game lately.
Good thing CPG is committed to their divy and have room to maneuver on their balance sheet. She will ride this one out just like she has in the past.
As as for oil pricing and the American glut of oil, don't forget that most Baken oil in the U.S. being produced is expensive to get at. So if oil prices drop much more I would expect Baken drilling to subside and of course with that a reduction in oil output going forward.
Until then I'm buying relatively small amounts in various O&G stocks that have a good balance sheet, good potential on the books, a sustainable divy and are good value.
CPG is one of my favourites right now, it's pretty hard to beat CPG's netbacks!!