RE:RE:RE:RE:RE:CRYING Over SPILLED MILK: SU Had BEST 1M Acres Of NG/NGLs Oldnagger - (1/15/2024 3:55:05 PM) RE:RE:RE:RE:CRYING Over SPILLED MILK: SU Had BEST 1M Acres Of NG/NGLs
Well, the industry has come a long way since the days of throwing a package of gunpowder down a well . Fracking has been constantly growing in effectiveness ever since. The real change was in switching from verical wells to horizontal wells , so I would still maintain that few investors realized back in 2013 , the combined effect of these innovations.Look , I once worked for Petcan and would be one of the last to laud them , nevertheless , I would find it difficult to criticize their move back then. Particularly when one looks back at the tremendous value destruction that the entire nat gas industry had subsequently experienced
***
- NOT BUYING into this for one minute
- the Canadian natural gas industry in 2013 KNEW that NG was the NEXT BIG THING SINCE SLICED BREAD {or SHOULD OF KNOWN IF they were COMPETENT ENOUGH}
* the US ELECTRIC UTILITIES were MOVING to NATURAL GAS from COAL-FIRED GENERATION due to BOTH IT BEING CHEAPER and LESS CARBON INTENSITY
- so the WRITING was ON THE WALL that NG would be a STRONG PILLAR of ELECTRIC GENERATION
- YES, SHALE FRACKING LED to an ENORMOUS SURPLUS and BOTTOM FEED PRICING but that does NOT MEAN that your NG RESERVES are PERISHABLE and UNWANTED
- EVERYBODY in the shale industry KNEW that that FRACKING had a VERY HIGH DECLINE RATE so in the MEDIUM TERM, the NG companies had to GRIN and BEAR IT until SUPPLY/DEMAND BALANCE came back to a LEVEL PLAYING FIELD
- SO NO, Suncor Energy MADE a GIGANTIC SELF-INFLICTED ERROR {by SELLING the NG assets in 2013} that DESTROYED TREMENDOUS SHAREHOLDER VALUE
z173