RE:Canadian $Oil prices are issued in USD. As the Canadian dollar rises, CPG's valuation decreases in Canadian dollar terms (one way this will materialize is that the gap between CPG shares traded on the TSX and NYSE will tighten as the Canadian dollar rises).
This applies to all Canadian O&G companies. However, some companies like CPG are in a unique position. CPG (like, for example, ERF) has significant operations in North Dakota. The expenses they incur in North Dakota are paid in USD, which effectively costs the company less as it takes fewer Canadian dollars to satisfy those expenses. Moreover, some of CPG's debt was issued in USD. They can now buy their USD denominated debt back using more favorable metrics.
Iluvyellowsnow wrote: As the price of oil has gone up so too the Canadain dollar. I'd love to hear your comments on how the rise of our dollar will affect the bottom line of CPG and other oil and gas plays in Canada.