RE:RE:RE:RE:RE:Eric Nuttall Exxon Mobil (NYSE:XOM) and Imperial Oil (NYSE:IMO) said on Tuesday they agreed to sell jointly owned XTO Energy Canada to Whitecap Resources (OTCPK:SPGYF) for C$1.9B (~US$1.48B).
The assets include 567K net acres in the Montney shale, 72K net acres in the Duvernay shale and additional acreage in other areas of Alberta.
Net production from the assets is 140M cf/day of natural gas and 9K bbl/day of crude, condensate and natural gas liquids.
Whitecap (OTCPK:SPGYF) also approved a 22% increase to its monthly dividend to C$0.0367/share.
SUPER Long WCP $$$$$$$$ like Insider LONG
Welcome to the 'Goody Room'
... Davesnothere wrote: Who knows when ? Like maybe today.
LOL pierrelebel, your patience has been rewarded. Mine too !
Very very long WCP...
Davesnothere wrote: Eric Nuttall recently implied that Big dividend increases and Big buybacks will be the catalyst for higher share prices. Not the price of WTI or gas at the pump, not OPEC exhaustion, not Ukraine, etc.
That seems to answer the questions of why are we trading for so little? How long will the market pretend to not see the spectacular increase in revenues and FCF.
Plus it gives us a date to look forward to, July 28/22, when Grant Fagerheim the CEO will reveal his plans for the piles of extra cash.
WCP is a bit different in that they have clearly expressed a desire to grow by strategic acquisition, given the right opportunity. But that could come at any time. Who knows when?
Time will tell...
churchofnutsacc wrote: Exgeac wrote: Thank you for your link to Nuttall's Rant
Markets are forward thinking and certainly not stupid , if had any substance in what he was saying , Energy Stocks would be RED HOT all quarter and well into the end of the year.
Someone should call him out on his Energy Rant..
I hope next week will be better week .. more legs up !!
The market is not as all knowing as you like to think it is. If it were, the market never would have priced Whitecap at $1 just two years ago.
In my view, the market had no idea how to price energy stocks then, and they have no how to price energy stocks now.
The energy markets did not untighten itself in two weeks. If money managers and HFT algos want to sell their flowers to water their weeds, then let them.