Today was a great day for Loading UP Today was a nervous day for the stock market in my opinion, with Opec meeting yesterday that lasted 20 minutes, and today there was concern about U.S. inventories. Everyone is positioning for a pull back, but it is full steam ahead.
5.35 Million boe Draw... https://ca.investing.com/economic-calendar/api-weekly-crude-stock-656 So today is a buy day, and especially with the update to the POU slide deck.
Smoky Duvernay It looks like Smoky Duvernay is going to get a little attention, it has been reranked and will provide better returns than Wapiti is the current POU projection. I gues we know that this play are is a slam dunk or Cresent Point would not have bet the future of the company on this play area.
Kaybob North
Kaybob north got re-ranked and the play is now ranked higher, above the duvernay is the montney oil play that they have been pursuing. So i expect that all the infastructure that is already in place for the Kaybob montney will do well in the exploition of the Duvernay.
So today was a buying opportunity, and i bought big today, POU is off to the races and there are no more issues regarding funding of future play areas.
Wapiti and Karr will be spewing off gobs of FCF and POU the next deals they make will likely put cash directly into the pockets of shareholders.
IMHO