RE:RE:I don't think the dividend will require cuttingThis time may be different though. If Notley follows through and makes everyone cut back production, and if WTI gets back into the $60's, we should be ok. If either of those doesn't happen, CJ will have to cut again, no question.
Did you guys all forget CJ's 2018 budget, do I need to post it here again. With $55 WTI .78c cnd dollar $1.75 AECO and $20 differentials he was showing a $69 million ($76 million suprlus with no hedging losses).... at $55 WTI!! So why would oil have to go back to the $60s to prevent a dividend cut?, when at $55 WTI and a .78 dollar. (we currently have a .75c dollar) he was showing such a large surplus that he could double the dividend if he wanted! Now he obviously won't double the dividend he will focus on lowering operating costs through blending activities and hydro costs along with paying off debt...but your comments make no sense, that he would be forced to slash the dividend if WTI doesn't return to the $60s.... When he originally cut the dividend from 7c a month to 3.5c a month WTI at that time was $29 US. So that dividend was put in place during very low prices... I think he can withstand a few months of volatility until Alberta cuts 300,000 bbls on Sunday night.