Basis dealsAm I wrong in assuming even though they lost money on the basis deals they got better terms on the other end??
Also, when you are looking at tanking prices, Russia, Saudis, Pandemic the idea is to just survive and then figure it out when things improve.
People sometimes forget and hindsight is not always there for those making the decisions early on.
Sometimes a slap in the face, can be very important when making decisions one is not familiar with. I once did a bad purchase and it has saved me more going forward year after year as it is long in my mind each time.
Peyto is hot and heavy with recent wells drilled and completed over the last six weeks, this will have a good impact on revenues over this winter hopefully. Another four weeks of drilling maybe to what Dec 15th or 20th back around Jan 10th to 15th??
As egress does not seem to be an issue as it was, and production declines will eventually be noticed by companies no longer around or with little new money to drill, it gives Peyto more room, not that we are talking hundreds and hundreds of millions of extra production by Peyto but enough that it can have a good impact going forward as it did in the 00's and put us back on the right track.
A good day all around, maybe there will be a steady improvement in Peyto's price going forward.