RE:RE:Get over it, MHP - And just admit you're wrong You seem to be getting allot of flack for making some valid points. The dwelling on it day over day gets old though.
You are correct about CNQ diverting capital away from Townsend. All the operatiors are running into this issues with the Treaty 8 ruling. The BC government will be the one making the deal and a go forward plan. No single oil company is making a deal that has any impact long term. TOU and Petronas do have better relations with the Blueberry but they will not have a off off deal. This is a larger issue then a single industry or company so the BC government will be that negotiate a go forward agreement.
The BC oil and gas commison isnt allowing new permits till this is settled out. Existing permits are good but if you need to do tie ins or fracks thats becoming a bigger issue. TOU and Petronas are going to be slowly winding down drilling as the drill but not completed back log builds.
As you seen CNQ has well drilled (Infield wells not new pads). The issue is getting permits to frac and tie in. Crew, Ovintiv, Arc, TOU, Storm everybody is in the same boat. Some companys are being more transparent but trust me, They are ALL dealing with this and its hitting them ALL.
Attachie will happen and should. Its a long term plan and shouldnt be over looked by short term thinking. Its like Pacific Cambrian and there long term plans. Who knows, Maybe ARC buys the out and avoids the start up costs. Would be a smart move like TOU buying Black Swan as it avoided gas plant and infrusture build out..
The hedging loss is known and done. Cant change it so crying over spilt milk day in and day out wont change that. Oil and gas flipped hard and they got caught on the back side of this. I agree the long term nature of these hedges suck but will have to move on.
Arc has allot of depth and give it time it will be work out to be a good investment.