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Chinook Energy Inc. Common CNKEF

Energy Oil & Gas E&P


GREY:CNKEF - Post by User

Chinook Energy Inc. Common > Chinook drilling program?
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Comment by blegenfellon Sep 29, 2019 10:38pm
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Post# 30176109

RE:RE:Chinook drilling program?

RE:RE:Chinook drilling program?The low price of natural gas makes drilling unattractive, since a well wouldn't produce enough to pay off the investment. Anyway, in order to drill, they'd have to borrow money. But they are currently in technical breach of some of their debt covenants, which should make borrowing either impossible or very expensive. Unless gas prices improve, the wait is going to be long and painful.
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