Cenovus Energy Inc T.CVE

$83 oil

[Stockstag1]

Looking for new highs this week. 

Cheers 

The Stag

[JohnSP]

Suweet ! ! I;m going to sleep well tonight !

[oilandgasmick]

Hope we can sustain 15 bucks tomorrow. The pattern is that as soon as COP sees the price rise by 56-60 cents per share they start unloading.

[JohnSP]

Well WTO now flat and CVE.TO up 0.5% to CAD14.50, good not great, at least i slept well !

[oilandgasmick]

Yes, same pattern again--a small rise in share price and then COP jumps on the sell button and the day traders start cashing it in as well. I guess a 2-3% profit a day is a good living for some people but hey that's the financial system. The World still has a tough time realizing that the last 7 years of underinvestment will have structural effects that will last a decade but they will have

[JohnSP]

Good points, wonder why IMO is up so much, brand name awareness or XOM making a run at buying rest of IMO? Good article: OPEC+ Spare Capacity is Insufficient Amid Global Energy Crisis Also in that article is link to good video interview on CNBC: Former Saudi Aramco EVP Sadad Al-Husseini on the global energy crisis At start he says OPEC spare capacity is 2.5-3 mln bopd, way less than

[meritmat]

Long game oil over 80 for month by look of it.    3 months ago we were wishing for 12.  If we're at 15 Jan 1 it's a gift 

[oilandgasmick]

It has long ben suspected that OPEC doesn't have the spare capacity that they claim to have. It's really an old story. People are not aware that most of the big Saudi oil fields (Ghawar included) were discovered in the 1940's and 1950's and have been on water-flood for decades. Even with the next step- tertiary techniques- they can't last forever. This is why new investment

[TopStockBuy]

Images of Greta freezing her buns off in the dark this winter will bring a smile to my face... 

[oilandgasmick]

She won't freeze. This silly girl and her family have raked in $ millions based on absolutely no knowledge of the energy industry. 

[mrbb]

i wouldn't bet on a commercial tertiary recovery scheme for the ghawar pool.Even at $100+ oil, i don't recall any tertiary project got sanctioned in alberta outside of oilsand arena. Once the ghawar wells watered out, it will be shut in  

[JohnSP]

I worked on Ehane followed by Nitrogen flood of Cardium oil field in Alberta north of Rockly Mountain House in 1980's. Was justified in age of very high prices and I think lots of govt funding. IIRC Dome CEO Jack Gallagher owned the N2 Plant :). Anyway huge economies of scale for EOR of Ghawar, could use CO2 byproduct from nearby Qatar's LNG Plants at Ras Laffan Industrial City.

[mrbb]

back in the 80's, EOR was a new frontier and mostly a hopium sold to management for promotion, and sold to gov't for grant money. You already pointed out that N2 flood got sanctioned because an insider benefited from selling N2, and grant money because  new hopium project always get grant money if sold correctly. Been there, done that.  I don't know of any commercial N2

[JohnSP]

"EOR was a new frontier and mostly a hopium sold to management for promotion, and sold to gov't for grant money." Fully agree. On that RMH Cardium field there was never enough Ethane Bank put in and reservoir was never repressured enough for N2 to be miscible, so we got early N2 breakthrough and side benefit N2 pressuring up shallower reservoirs via poor 1960's cement jobs

[mrbb]

i don't support CCS.  CO2 has plenty of beneficial application in food production and enhance oil recovery. There are several economical EOR project in alberta that employ CO2 injection.  We are wasting billions $$ in CCS instead of building up pipeline infrastructure to transport CO2 to users that willing to pay money for CO2.  New use for CO2 How Dry Ice Is Used To Deep