Big Banc Split Corp T.BNK

And we think Albania is bad

[agspo63]

At least BNK is not extracting heavy oil in Canada... Price of barrel less than 10USD in Alberta
At the current brent price BNK's profit of 7$ per barrel is amazing... the only problem remains the stinky audit and the govt reaction to the results (eventualy)

https://business.financialpost.com/news/energy/crude-at-10-is-already-a-reality-for-canadian-oilsands-producers?__lsa=5ed7-01fc

Good luck

[Coop007]

Yes but rig count went up 61 in Canada, Where is this capex coming from make's no sense 

[grantoue]

These rigs are probably drilling liquids rich gas.

[Coop007]

Thank's for your explanation, I am just glad there is still something in Canada still worth going after

[cashtango00]

not sure where you are getting your info, but they are not making anywhere near 7 dollars profit here.  Their netback is under $ 3 at  30 brent, so under 30, they are bleeding.  Yes that is info from the company....

[agspo63]

Yes, you are right, at $30 Brent, its netback per barrel is $2.88 I have read the 7$ figure a couple of posts bellow and I got carried away :D Still it sounds much better than negative netback as we can see on most of the other canadian companies... let's try to be optimistic, at 29.20 closing price today for Brent the situation is quite bluish... and it's albania

[wallop13]

The $7 includes the small 20% hedge (4.15 a barrel) at $30 brent. So yes they do make $7.03 a barrel for the rest of 2016. In 2017 it would be $2.88 if no new hedge is placed and brent is still $30. If that happens at least we'll still be here, financially sound, low debt, albeit with a little less production. For at least 50% of other companies that scenario is unfathomable. For example, take

[wallop13]

Here's a better comparison:   Cash Flow Per Flowing Barrel (hedge removed) Q3 2015 - BNK $1,912 / CPG $-416.67 (that's a minus)   Market Cap + Liabilities Per Flowing barrel (current market price) - BNK $45,515 / CPG $84,720   2016 full year guidance was used for flowing barrels (16,500 BNK & 168,000 CPG) Hope that makes sense. BNK looks pretty good. I'

[wallop13]

I'm not saying CPG is a bad company, or that they won't make it through the current oil market. CPG & BNK will make it through this. What I'm saying is that you're paying about double per flowing barrel for CPG and most other oil companies for that matter. It also looks like BNK will have more cash flow than CPG per flowing barrel down the road when the hedges expire. I also