RE:RE:RE:CRYING Over SPILLED MILK: SU Had BEST 1M Acres Of NG/NGLs FYI
Modern hydraulic fracturing — popularly known as petroleum well “fracking” — can trace its roots to April 1865, when Civil War Union veteran Lt. Col. Edward A. L. Roberts received the first of his many patents for an “exploding torpedo.” The geologic “fracking” technology commonly used in oilfields after the Civil War would be significantly enhanced when hydraulic fracturing arrived in 1949. Fracking in Canada was first used in Alberta in 1953 to extract hydrocarbons from the giant Pembina oil field, the biggest conventional oil field in Alberta, which would have produced very little oil without fracturing. Since then, over 170,000 oil and gas wells have been fractured in Western Canada My point is the dynamic of hydraulic fracking is quite well understood since 1950.
Oldnagger wrote: Nobody back then had a realistic understanding of how the dynamics of fraccing would affect the natural gas business . In a nutshell, it was for the most part disasterous right up till Covid. Then a boom occcasioned by a dearth of drilling and subsequent retracement inspired by warm weather and political manipulation (Freeport LNG )
So now we find ourselves at the present conjuncture with a polar vertex raising new hopes for a price recovery.
Personally , I have long been long gas and I hope that Suncor would join me as nat gas juniors have extremely low values. If all the hype about EV s comes even partly true then ng is the way to go.
Now saying all this, I remember how CNRL strong- armed Painted Pony and how Strathcona did likewise to Pipestone. Would Sun do the same ??
Well I hope they would have a little civility and at least offer a fair price !!