Reasons to be excited about VET (Q4) The average European gas price per dutch TTF was 44.34 in Q4, 2024, in Q3 it was 35.6 Euros for the same dutch TTF, (AI Google query)
What does this mean that the average price for TTF gas in Q4 was about 8.74 Euros higher then in Q3, or about, 24% higher.
Now we are talking about VET highest netbacks boe's just got 24% more valueable in Q4. 22 % of their production just got 24% more valueable.
It really has the same impact as Europe adding about 2,200 boe/day or roughly 11% to European production compared to Q3.
Q4 look for the following.
- Full quarter production from Croatia, likely higher than 2000 boe/day
- Australia full quarter of production, their very highest netback boe's back online. (maybe + 2000 boe/day)
- 11% improvement in overall gas pricing in Europe over Q3 pricing in Q4.
- AECO pricing recovery likely adding Canadian Production back online in Q4
- Mica a full quarter of high netback liquids rich production
So what does all this add up to is a pretty fantastic Q4 the way I see it.
IMHO
MHP