Post by
Rational43 on Oct 26, 2021 1:58pm
Selling and Buying
The ones selling yesterday were the ones dissapointed with the below market hedges, obviously entered into before a $10 rise in the futures strip, which could today see the 2022 year for WCS sold for about $62 USD on average.
I can completely sympathize with that, as I was furious at ATH management to see us already out of the money on '22 hedges.
Over the next while the institutional investors will be coming in, their irrational fear of the great plunge in oil assuaged by a conservative management team focused on hedging and paying down debt.
The good news is even with a healthy chunk of '22 upside given away (for additional security), there is still more upside per $ invested in this name than almost any other mid sized producer I can think of.
Comment by
Oil2018 on Oct 26, 2021 2:04pm
Think it positions company well for take-over? Think what a larger company would be buying...debt free..great realestate etc. Bodes well with shareholders...I say 2.50 min take-over...3.50 max
Comment by
bosstrade on Oct 26, 2021 2:13pm
They will offer far less. Good possibility here based on volume today.