RE:Nice Year End Closing for Kel TodaySettlement wise, the start of the new year.
US natgas is looking to be in deficit vs 5 year within 2 weeks if projected weather materializes. this is causing additional draws of natural gas from Canada. Hopefully this brings Canadian storage down and AECO prices firm up. I'm hoping HH strip will reach ~4.00+ sometime in Q1. Normally basis is ~US$1.20 so AECO should be closer to $4 (C) as well. That it remains so low compared to HH is an outlier and will hopefully corrects itself soon!
Seems like CSV Albright may have further delays. There's been no news at all, plus I saw a couple of analyst reports, their forecast for 2025 Kelt production isn't as high as I expected ie grosso modo first half is testing etc and 2nd half is full capacity?
But once Albright is fully up and running, its a game changer for Kelt especially oil production wise. Onwards and upwards.