TSX:BEI.UN - Post by User
Comment by
autofocus111on Sep 22, 2021 6:52pm
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Post# 33902874
RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:TD's Upgrading to ACTION LIST BUY from Buy; Q2/21 Results
RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:TD's Upgrading to ACTION LIST BUY from Buy; Q2/21 Results Rig count does not look all that impressive to me if you look at data going back to 2014. It's basically back at 2019 levels.
https://boereport.com/caodc-rig-count/
Same goes for oil production.
https://economicdashboard.alberta.ca/OilProduction
What proportion of the rigs are simply to make up for well depletion? OIl producers need prices to stay high for at least another year to pay down debt before they embark on any significant expansion projects. At least TMX and L3R will add takeaway capacity in the near future. Let's see if production ramps to fill it.
Unemployment rate recovery looks decent. Basically back down to pre-CV19 levels
https://economicdashboard.alberta.ca/unemployment
AB net migration has been very weak since 2014. Still not even back to pre-covid levels.
https://economicdashboard.alberta.ca/NetMigration
I am cautiously optimistic.