Suncor Energy Inc T.SU

Tight oil ain't what it used to be?

[Clemxb7]

Can tight oil ride in and save the day for oil prices?

[MigraineCall]

Short answer... No they won't save the day. I don't consider weekly rig drilling reports as important as I do the frac spread count. Why? A well gets drilled, then sits as a DUC waiting to be fracked. that is called DUC inventory. In order to frac, there are a lot of headwinds now that were not there before just a few years ago. There is a shortage of frac sand, well pipe, labour, steel,

[Obscure1]

Great info for an oil neophyte like me.  Thanx

[Experienced]

Migraine...Great post as usual I would add one other consideration to this. Many of the companies hold significant land rights and an inventory of drilling sites greater than their capability and this has been the case for many years.  In the past when oil prices were low, these companies often drilled in their most promising sites (highgrading to borrow a term from the mining industry) as

[rattleandhum]

The extension of leases will be a debate in the coming months, but I assume that since Alberta’s resource revenue just hit an all-time record for this year as royalty revenues grow, the debate will be somewhat muted and biased towards granting extensions.   Oilsands were providing greater royalty rates in 2021, and total bitumen revenues contributed $11.6 billion to the record $16.2 billion

[mrbb]

Correct, natural resources is a provincial jursidiction, ottawa has little say into what alberta, saskatchewan do with their oilsand and minerals.  Ottawa only can influence interprovincial pipeline and ocean transport. Alberta have tried to ween off oil/gas but they learned they can't. With ottawa support and free money for vote, ontario and quebec will always get better support in high

[Experienced]

As per my earlier post...Environmental final approval is federal not provincial.

[Experienced]

True but the final approval depends on the Federal Government, not the Alberta Government. As Obscure points out, SU shareholders can only hope that between now and then there is a "friendly" Government in Ottawa.

[zeropointenergy]

 Consumer spending will see China’s nominal gross domestic product hit $28.25 trillion by 2024 ! NICE!  

[Obscure1]

Yup! I understand that SU started its application 6 years in advance of its expected decision date which still left 5 years to fight a "NO" decision.  One can only hope that we have a new leader before then that doesn't have his nose up Klaus Schwab's butt.  And let's all pray that we never see Ella-Grace or one of her brothers taking over residence at 24