Post by
kavern23 on Sep 24, 2024 7:31pm
Industry..
According to the boe report article that is posted like yesterday/today...like 700-800 million cubic feet a day of industry production shut in so like 17.3 bcf of Canada production versus 18.1 bcf a day normally see.
I am surprised it is not more.
These so called experts are always so optimistic and thinking late October is that imo.
Many scenarios and this last sub 1.50 aeco is until mid nov or end of nov.
If companies shut in to 15 bcf of production, aeco is likely 2-3 dollars spot right now.
2 bcf needs to go and it is that dry ng production that is high cost.
I will be watching Pne September production closely as that company should be eager to sell lots of ng. Any time resource reserves are being eaten and negative return is happening it is not good.
Comment by
kavern23 on Sep 24, 2024 7:37pm
Good thing ygr didn't implement a return of capital strategy yet...gives flexibility. some companies will feel pain when they do November bank review and 2025 -2027 ng strip is bad. banks are not optimists they go by real curve numbers. If not a low cost operator we should see merger action or share offerings soon.
Comment by
margaritaman on Sep 25, 2024 4:21pm
Kav, I have to ask you something. Is Monty Pythons "Always Look on the Bright Side of Life" playing in the background when you think about YGR?
Comment by
Hendrick3 on Sep 25, 2024 4:26pm
We need some optimism on anothe pull back day for the industry.
Comment by
Helloworld on Sep 25, 2024 6:16pm
Today another depressing day summarizing last 2 years of trading. Has been same story any time there has been a large number on the bid. A little downward move sector, and large numbers just get swallowed up. 250k shares traded is most in a long time. Now below precovid despite over 100 million in debt paid off.
Comment by
Hendrick3 on Sep 26, 2024 8:53am
It has been a tough 18 months for sure. The last 3 months though, ygr has done comparatively well. It was trading at $1.02 just before 2Q results which is where it closed yesterday. Many other players down 20-25% since results release. And yes I get that we are down over 50% in 18 months. It's not just ygr especially in recent months.
Comment by
kavern23 on Sep 25, 2024 5:48pm
Bright side is not being an alberta electricity producer selling at spot power prices....Alberta has had a price of 0 for power the last 5 hours...truly wild.....