RE:RE:RE:RE:Q3The Ovintiv and paramount deal was very unique and one has to overthink this one?
why would paramount sell and why would Ovintiv buy and a good reason for each side...
Paramount in last commodity crash cycle sold their gas plants in gp montney area as needed money.
They have to their party ng there.
Right now they are building a huge gas plant in willygreen for Duvernay and rumour is with this cash build even bigger. If ng prices are going to be lower great to own plant.
Ovintiv paid so much as they own huge gas plants out there that have available room and only reason they are not fill is alot of Ovintiv montney has less oil and liquids.
Ovintiv probably was bidding against itself lol but they didn't have leverage on price as paramount doesn't need to sell at rock bottom or low.
And it kinda supports what I am saying on why Bne eventually should be split up.
if want to do either cl or montney right need to focus all energy and build a ng plant of their own at some point.
that was birchcliff mistake they didn't build all their own ng plants