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Birchcliff Energy Ltd T.BIR

Alternate Symbol(s):  BIREF

Birchcliff Energy Ltd. is a Canada-based intermediate oil and natural gas company. The Company is engaged in the exploration for and the development, production and acquisition of oil and gas reserves in Western Canada. The Company’s operations are focused on the Montney/Doig Resource Play in Alberta. Its operations are concentrated in the Peace River Arch area of Alberta. The Company has a 100% working interest in its Pouce Coupe Gas Plant and two oil batteries, as well as various working interests in numerous other gas plants, oil batteries, compressors, facilities and infrastructure. Its Pouce Coupe Gas Plant, which is licensed to process up to 340 million cubic feet per day (MMcf/d) of natural gas, is located in the heart of the Corporation's Montney/Doig Resource Play.


TSX:BIR - Post by User

Bullboard Posts
Post by fergus2on Sep 16, 2016 5:00pm
174 Views
Post# 25246863

Storage

StorageThe storage figure yesterday was disappointing. Only 12 Bcf less than last year and even less for the 5 yr. Both the one yr. and 5 yr. narrowed by only ½ a percent. On a brighter note, last year’s storage injections for the next 4 weeks were biggies, -106, 98, 95, and 100 in that order.  It will be quite interesting to see how the injections this year will stack up against those figures. Also note that last year at this time we had more production and less demand.  
Assuming we have 4 level injections at 62Bcf per week it will still be insufficient to clear the surplus “year over year” until near the end of storage season. The 5 yr. may not come into balance until 3 weeks into Nov. and I lean to the 5 yr. as being the important number. But it clearly shows what a bloody drag this surplus has had on the market. It’s taken the whole spring summer and fall to clear it.
It gives one pause to think that the rig count actually made a turn around. Personally I think they were out of the blocks too soon. At least today the rig count only went up 1.
BigSmoke, can you give more technicals on the rebalancing you alluded to?
Slacker, very interesting post on Jones Trading. Thank you.
 
Bullboard Posts