RE:Know when to hold ''em''Yes Ramman, I’m holding. And like the James Brown song, I feel good!!!!
My “when to fold ‘em” comment was directed exclusively at the shorts.
As far as the storage goes, that 4047 top-up to start the winter season is a significant front end load. I was truly surprised at that fill, but warm weather was essentially the culprit. Given the lengthy hiatus in the gas rig count much of the heavy lifting may have to come from storage this winter. There are some really interesting dynamics at play here but I’ll leave that for another post.
I take it from your comments that BIR gas from their PCS plant is unhedged. That’s good news. Not a good idea to hedge at the bottom of the cycle. Hedging is complicated. Everybody embraces the general concept and thinks it good but the devil is in the details, especially if you have to hire some consulting organization to handle it for you, which besides being costly could result in management ceding substantial control to a third party. I have never seen a truly authoritative book on the subject and guess the reason to be the proprietary angle and such people holding on to their secrets. And I think I’ve heard somewhere that Exxon does not hedge. If true it tells me it’s not for everyone.
Sauble Beach eh? Not far from Fergus. And both of us a long way from Peace River country.