RE:What Shareholder Value ? ? Just because oil and gas prices seem healthy doesnt mean the industry is for next year.
Look at Aeco hedging price for Alberta NG...in peak heating demand season, January 2024 can only hedge NG for 3 dollars.source: https://www.gasalberta.com/gas-market/market-prices
Unless a very cold winter in North America...that is pointing to NG being sub 2 dollars in Western Canada next summer. Gamble on weather but odds are not favorable for bull side on NG.
IT sucks, but ESN and CWC may not want to risk what the share price will be next summer if NG does crash to 2 bucks. Employees and service locations are so expensive to run after inflation of last few years.
Investors need to remember one thing, Saudi is producing at covid levels right now. "fake 90 dollar oil price"...if OPEC even produced at 2019 levels what do you think oil would be?
Not a stable 90 dollars.