RE:Run Up is Commodity Price Driven -OilIt's all about AECO now.
US natgas has firmed up, It looks like storage surplus that has existed for ~2 years will be gone sometime in November.
Dry gas producers seem to have begun differentiating between existing and new well costs which has led to more deferrals of completions and turning wells in line.
$3.25-$3.30 HH strip is fine for existing wells but new wells cost more than that.
Hopefully CDN producers learn the same lesson and defer completions and turning wells inline in the future when storage gets too high/strip too low. Problem is the market cares too much about boepd.