RE:RE:RE:2024 Out of Control Insider Sales ?The main issue is dry gas. You can't survive at it without being very good at hedging or marketing, or being liquids rich. Somebody asked BP NA recently about Haynesville and their answer was we are fully hedged at $4 the rest of 2024! Meaning is, we'd be !@#$% otherwise.
Oak to me is not a fit for Kelt long term. Not enough liquids, hedging is not their forte and they don't run their own plants. LIke others they think LNG will raise prices but the experience in the US is that it only works for those who have contracts tied directly to LNG overseas prices.
Kelt Alberta otoh is primarily oil and liquids rich (50%) which works well for them.
Problem this year for Kelt is they should have kept their power dry instead of essentially borrowing to invest in natural gas plays like Oak and Pouce Coupe West. They have no hedges in place, they're just hoping natgas prices recover. Hopefully they will learn.