GREY:BXEFF - Post by User
Post by
defuncton Jan 06, 2015 2:37pm
291 Views
Post# 23290717
Sad to say but>>>>
Sad to say but>>>>
We're going lower. All these companies coming out and saying they are cutting cape x is a good thing for sure, What is troubling is that every one of the companies is still guiding for higher exit rate production at the end of the year. Until you start to see production be reduced across the board nothing good is going to happen. the final down draft for me is in February when OPEC keeps the taps turned on. If that occurs BXE will be forced to sell some of its assets (Duvernay) as the dum? flocks didn't hedge. I have been his biggest supporter over the years as he managed to turn the company around from dead, but this is a dismissal type mistake. Time for retirement Ray. Sell the company.
On a side note as a canadian, I am getting a little tired of being the Walmart of oil prices ( always on discount). Our pathetic Federal and provincial governments are unable to realize having more than one customer for our products would be a good thing. Brutal to watch how we constantly get sand kicked in our face and have no leaders to do anything about it.
My rant for the day.