Henry Hub Ng prices OVER $3 bucks!This is where the party starts for heavily torqued ep's like Advantage & Birchcliff. Specifically Advantage who's production is 90% gassy. IF prices stay around these levels for a couple months. there's a good chance this will be the new baseline support level and will not dip back under $3 for ther next few years. Especially since new oil production has been completely destroyed because of the fallout of the CoronaV epidemic. In turn this has greatly reduced the byproduct supply of NG from that production. There will be a NG supply crunch in the next few years and it will difficult to restore that supply/demand structure as capex has been greatly reduced & new well develpoment has come at a complete standstill. In this environment, i doubt somone like Advantage remains indepedent for much longer. IF they don't end up merging with Birchcliff, as this would be the optimum endgame, someone else like Ovintiv or Tourmaline takes them out eventually. This is inevitable.
Good luck & God speed