Tourmaline Oil Corp (Alberta) T.TOU

Natural gas price destruction

[houbahop]

With TTF and JKM trading at multiyear lows, I would not be surprised to see TOU retest last year's lows around $53. There is simply way too much gas produced and no where to place it. The markets are flooded,

Very difficult to add exposure to Natgas when its leader gets punished like this.

The only ones who will survive 2024 are deeply hedged. Otherwise, natgas is a write off for the next 10 months.

[PabloLafortune]

I have a somewhat different point of view. Low LNG prices means firmer demand overall which is positive for NA Natgas prices IMO. TOU is still 95%+ NA?  Meanwhile US storage approaches '23 levels per Celsius And 7 month rig count is way down in the Marcellus and Haynesville vs previous 7. By June it will be a year's worth of much lower counts in these 2 basins. Also lower oil prices