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Prairie Provident Resources Inc T.PPR

Alternate Symbol(s):  PRPRF

Prairie Provident Resources Inc. is a Canada-based company engaged in the exploration and development of oil and natural gas properties in Alberta, including a position in the emerging Basal Quartz trend in the Michichi area of Central Alberta. The Company has 167,869 net acres in its Michichi core area with approximately 40 Basal Quartz potential drilling opportunities targeting light/medium oil. Its core areas also include Princess. The Company's subsidiaries include Prairie Provident Resources Canada Ltd., Lone Pine Resources Inc., Lone Pine Resources (Holdings) Inc., Arsenal Energy USA Inc. and Arsenal Energy Holding Ltd.


TSX:PPR - Post by User

Comment by Justhalffullon Oct 23, 2021 8:36am
156 Views
Post# 34040401

RE:Oil Price

RE:Oil PriceYou have to look at more than just the oil price.  Firstly, $84 is the WTI oil price.  That is not what PPR gets.  They get the WCS price, which is generally $10 to $15 less.  In addition, their new oil from Princess, about 400 boe / d is heavy oil, which gets even less than the WCS price.  Add to that the fact that nearly 60% of their production is hedged.  Their natural gas hedges are collars in the 2.50/3.90 zone, so everything above 3.90 is a derivative loss.  In  any event, expect results on or around November 12.  Then we will know for sure
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