what an exciting day in a negative wayI could buy WCP and CPG back at a 30% discount. Although I have no intention to. Transmountain Pipeline is a disaster. (disaster made possible by your friendly Liberals)
UNG in the United States is down 62%. Thank God US natgas doesn't flow north. The Permian E&Ps like OVV reduced the number of rigs and use the super rigs that can drill a bunch of holes from one spot and the technology that they are using is incredible. The length of the laterals is mind boggling. They are setting records of production and on top of that they are getting 30% natgas out of the hole while they're getting $70 US for a bbl of WTI. The natgas is free, they could sell it for a nickel and make a profit. And even more good fortune smiles on them because they have a lot of LNG plants to do takeaways because it's cold in Europe and Japan and whole lot of other countries need it.
And the Opec+ is supportive...??? I think they are in a corner.
Up here in Canada if the weather keeps going the way it is they'll be using air conditioning in Thunderbay and Sudbury soon. Thank God half of the natgas we produce goes into making steam and other needed energy uses in the OiIsands.... players like SU CNQ CVE etc NEED it. I mean where do you think the steam for steam injection comes from.
Me I need an LNG plant functioning yesterday. I too am suffering.
GLTA