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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

Post by TouchDown12on Jan 18, 2024 10:19am
213 Views
Post# 35833463

BIR is now a bet on NYMEX Spot NG Pricing; until it is sold.

BIR is now a bet on NYMEX Spot NG Pricing; until it is sold.Tough Day for longs. This company now reminds me of a sports team that is at the bottom of the standings - is facing all the adversidy at the end of the season in the hopes of making the playoffs next year. Tough sell when this season is still playing itself out with lots of unknows and uncertainty. To bad Jeff overused the 'no hedge' strategy. it paid off while paying off past debt only to end up putting it back on. I think this is now a two season (2 year) recovery story as TD spoke of; not just 1 year. I could be wrong and it takes less time but i think that is realistic. A little strategy from BIR would have avoided a lot of the pain (maybe even 40% hedged??). PEY did it so it could have been done at least in part. GLTA TD12
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