Outlook Q4 and Q12020Q4 should be pretty good based on several positive factors: 1) reduced capital spend from $16-17mm to around $7mm 2) much better realized prices especially in the last few weeks 3) improved gas prices at AECO.
Q1,2020 WTI could be hedged at very attractive prices, and speculating further, WTI could be hedged at more than $57 U.S. to the end of 2020. GF is not really an enthusiastic hedger but the future is very uncertain. However, the outlook is much more positive than at this time in 2018, when WTI was about $54 U.S.,BNE around $5.20, and blown out differentials. The debt has been reduced somewhat and will be reduced quite a bit more in Q4, based on the above factors. Production numbers in Q1,2020 should be pretty good and ditto for prices. The future for BNE looks very encouraging.