Late govy reporting Still no Julyproduction numbers available. Boring time. Usually our by 18th day of month.
still looking like things are not greatest in central Alberta as i3 energy sure sold cheap.
i think i3 energy merged cause they need capital to develop their montney simmonnette field and with low aeco...i3 central Alberta assets were not going to produce enough cf to do it.
Once whitecap and obsidian Pembina partnership part of cardium is drilled up I see wcp selling out.
Wcp is just milking easy money. So far 14 wells are all going to do 100k-120k barrels of oil in first 20-32 months of production. If you can average 15m dollars in revenue in first 2 years if a well and it costs even 5m to drill and tie in that is hugely profitable.
wcp is just smarter than how arc or ridgeback sold their cardium assets, drill the easy high return spots first and milk the fcf.
Mergers are coming though in cardium