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Pieridae Energy Ltd T.PEA

Alternate Symbol(s):  PTOAF

Pieridae Energy Limited is a Canadian energy company. The Company is an upstream producer and midstream custom processor of natural gas, natural gas liquids, condensate, and sulphur from the Canadian Foothills and adjacent areas in Alberta and in northeast British Columbia (BC). It owns and operates three sour gas processing complexes at Waterton, Caroline and Jumping Pound. Its footprint covers over a million gross acres (807,000 net acres) in the Foothills and makes up conventional gas reservoirs in North America. Across Alberta and British Columbia, its footprint stretches over one million gross acres of land, with ownership of three deep cut gas plants and more than 3,800 kilometers of pipelines. Its foothills include the southern foothills, central foothills and northern foothills. Its southern foothills have three main fields: Waterton, Carbondale, and Burmis. The Company also has a production facility in the Northern Foothills of Alberta and in Northern BC.


TSX:PEA - Post by User

Post by Maxmoeon Aug 23, 2022 11:29pm
252 Views
Post# 34916057

Meanwhile, back on the farm

Meanwhile, back on the farmAs mentioned, the only thing close to production in under 3 years minimum, on the east coast of Canada, is the now repsol owned facility in Saint John. It was designed for importing LNG for use by Irving. If you don't know the Irvings they are bazillioaires based in New Brunswick with a near monopoly on oil refining and distribution in eastern Canada amongst other huge industrial businesses. The sale of their interest in the LNG plant looks typically shrewd to me. If repsol leaves it as is, Irving is basically the only customer, they can and will dictate tough terms. If repsol plans to spend big money to "reverse the flow" like the landmark reversible falls of Saint John, Irving will be sitting pretty waiting to draw whatever gas they need transported via Maine as planned. At no capex to Irving. The irvings are well accustomed to working around Quebec to get what they want/need. In my time horizon, no pipeline of oil or gas will be built from Quebec City east. So farewell Germans, keep talking amongst yourselves and with your fellow sock shorters. 
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