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Birchcliff Energy Ltd T.BIR

Alternate Symbol(s):  BIREF

Birchcliff Energy Ltd. is a Canada-based intermediate oil and natural gas company. The Company is engaged in the exploration for and the development, production and acquisition of oil and gas reserves in Western Canada. The Company’s operations are focused on the Montney/Doig Resource Play in Alberta. Its operations are concentrated in the Peace River Arch area of Alberta. The Company has a 100% working interest in its Pouce Coupe Gas Plant and two oil batteries, as well as various working interests in numerous other gas plants, oil batteries, compressors, facilities and infrastructure. Its Pouce Coupe Gas Plant, which is licensed to process up to 340 million cubic feet per day (MMcf/d) of natural gas, is located in the heart of the Corporation's Montney/Doig Resource Play.


TSX:BIR - Post by User

Comment by mrmomoon Sep 21, 2023 9:12am
161 Views
Post# 35647066

RE:RE:The worst investment in O&G patch?

RE:RE:The worst investment in O&G patch?"Bir done much better than the hedged producers in 2022 , Jeff made the right call not to hedge"

Of course we're NOT talking about 2022 but 2023 & 2024. My post indicates that quite clearly.


"yes they should have hedged in 2023 and waited to be debt free to interduce the dividend"

A resounding YES.....at least modestly some hedging at insane levels beyond $6+ NG would have been a smart & prudent move...........and most definitely would have saved the company from it's current problems........But more problematic is their idiotic reluctance NOT to slash the divvy and divvy they CANNOT afford.

"Big money to be made the next couple quarters and they can drop or cut dividend."

I seriously doubt there's ANY big money to made here if NG prices remain below $3 AND Birch is still paying out that crazy divvy. The last part of your statement is a no brainer & should have been done long ago!


GLTA



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