Painted Pony Pete Ltd PDPYF

RE:one of many SAGD shut ins

[bigreturn11]

I'm gessing that he smallest fish like ATH are the first ones to fully shut in with no other alternative options and can't even send down the pipeline at a loss. You have to think that the bigger sagd players are keeeping the heat on, and only cutting what is absolutely essential.   

cashtango00 wrote:

CALGARY -- Athabasca Oil Corp. is suspending operations at its Hangingstone SAGD oilsands operation due to the drop in oil prices and the COVID-19 pandemic.

The company says it's also reducing its corporate staff by 15 per cent

The shutting down of Hangingstone involves shutting in the well pairs and halting steam injection to the reservoir as well as ensuring that the processing facility and pipelines can be re-started in the future.