Cardium playersToday Petrus got whipped near 15% down. I wonder what the the theshold is before a press release is required...I am not sure...but I have seen companies at really large swings being required to release some kind of press release.
But here is the reality...if you add up the capital budgets spent by YGR, PTQ, IPO, BNE, OBE (partly)...it is quite a decent sized amount spent in the cardium for first 9 months of 2023.
Is this capital spend sustainable in 2024 capital budgets....
My gut tells me that CWC drilling sold out so cheap because they rely quite a bit for cardium zone to be active. A slow cardium is obviously bad news to CWC.
Petrus drop is wierd though as their perfomance is stated quite clearly in their monthly updates...shouldnt be a surprise when that tranparent.
Very easy to calculate PTQ capital spend for Q3.
PTQ drop doesnt surprise me but the speed does.
PTQ and YGR are equal in market cap now according to stockhosue valuations.
Pinecliff did a deal today but other deals are likely to come before dec 1...matter of who.
Not just low aeco causing a bigger seller market of old assets...also high interest rates.
High interest rates hurt the oil patch in more ways than just actually cash financing costs.
Also cost of capital increase....