Re: O/G companies have reserves for many yearsThe only problem with reserves, and I agree having more is certainly better then having less, is that when you pump out those reserves and sell them they become known as depleted reserves. If you are a CEO of an oil and gas company watching your company deplete its reserves, eventually you will come to the conclusion that if you personally want any future with your company at all, you better start putting drilling or acquistions ahead of dividends or everything about your carreer will start to fall apart.
So the idea that drilling has stopped in Canada is simply a short term issue and when it eventually resumes, which it has to because of the depleting reserve issue above, it will all come back very quickly. One thing I have noticed is that most companies tend to do the same thing at the same time and respond to issues in the same way. There can be no future in the oil and gas business without finding new reserves.
PSD will make huge amounts of profits from both drilling and acquisitions. The only issue is when it all happens, not if. In any case, we know they can wait. They really have no overhead. It is a pretty sweet business structure.