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Bullboard - Stock Discussion Forum Yangarra Resources Ltd T.YGR

Alternate Symbol(s):  YGRAF

Yangarra Resources Ltd. is a Canadian junior oil and gas company engaged in the exploration, development and production of clean natural gas and conventional oil. The Company has its main focus in the Western Canadian Sedimentary Basin. The Company has developed its land base to target the halo Cardium at Ferrier, Chedderville, Cow Lake, Chambers, O’Chiese, and Willesden Green with a focus on... see more

TSX:YGR - Post Discussion

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Post by kavern23 on Dec 16, 2023 6:43pm

Rigs

If a person goes to riggertalk.com visual chart of the 178 rigs working in Canada right now...a pattern and a trend is emerging.  I think canada is down about 20-25 rigs than what it "should be" with high price of cycle.  But the problem is lots of the rig drop is south east sask for viking oil.

Central Alberta is still quite strong for rig acitivity considering the type of rigs being deployed and the plays being drilled.

Montey from alberta all way into BC is heavily dotted with rigs still. Clearater lots of high grade drilling going.

Also huge amounts of oil on rail that recently started up...pipelines to the USa are basically full for canada again. Problem is the rail car oil may soon start to impact the us weekly inventory numbers.

An extra 300-400k a day of heavy oil by train to usa isnt great thing...right now with heating oil demand not great in alot of places. Need consumes to need refills of heating oil from their tanks.

Unless some outage happens somewhere, I think 70 mark will be hard to get past for long.  

Isnt the hedge funds interested enough backing oil with the contracts.

If oil doesnt get knocked down below 70 next wednesday it will be a lucky and wonderful thing.

The reality is all the heavy oil sagd companies 2024 capex plans involve production increases even if some are small ones. Nobody is producing less. Cenovus to Meg to anyone lol.

Some of canada heavy oil will be blended and ironcally fill up some of the SPR in the USA in 2024.
Comment by Overertune on Dec 17, 2023 8:39pm
Europe doesn't need more oil and gas from US due to Russia sanctions?
Comment by kavern23 on Dec 18, 2023 1:05am
Limit on how much USA can get to Europe. only so many LNG ports in borth usa and europe. And other problem right now is inventory numbers are quite high in USA, Europe and Asia. Warmer than normal not just in North America. In 2022 a cold usa december helped ease things from hugh usa production. But right now a double whammy of high usa ng production plus lower than normal heating demand due to ...more  
Comment by kavern23 on Dec 18, 2023 1:29am
One of big problems coming up for energy coming up will be displacement or substution. Take a country like Japan, who import alot of NG.  They have a ageing population and a declining birth rate. Any future NG dmeand increases are likely going to be from EV's need more power from grid and displacing oil (gasoline). With the kind of ng supply out there right now, NG needs EV's to ...more  
Comment by Hendrick3 on Dec 18, 2023 7:55am
Not sure why NG is up in late sunday trading but I expect pressure on prices tomorrow for nymex. Might be the record cold in China and other parts of Asia. With natural gas prices so low, it doesn't take much to start them going higher. 
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