GREY:WFREF - Post by User
Comment by
iwpeteon Mar 15, 2015 4:27pm
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Post# 23523296
RE:RE:RE:"How about the real guff on storage"
RE:RE:RE:"How about the real guff on storage"tvstock....First of all I own LRE, they are a cheap option on oil price rising, and the option doesn't expire unless they go bankrupt.
NGLs are part of the reasn for the USA oil oversupply, they come out of nat gas and if I remember they were selling for around $28 a bbl in Dec.... and the shale plays produce about 3 million bbls a day, they have an API of 42. ...... I think it was in LRE's annual report as to what price they got for pure ngls, I don't think they hedge ngls. They probably get sold directly to oil sands cos. as dilutant.
Here's another good news article
https://www.artberman.com/misleading-iea-statement-sends-oil-prices-lower-and-the-u-s-rig-count/