Post by
kavern23 on Oct 07, 2024 10:28pm
Interesting ng
Interesting how Canadian exports of ng to USA compared to last year are similar to the decrease in USA ng production...1.5 to bcf range a day. The large ng USA companies first to really shut in and slow production.
if no war production outages, China will really hold key to ng prices everywhere. China has too keep buying or market will floor quick as Europe is so full.
China is second largest reseller of lng in the world.
Problem that may arise soon is if speculators push Europe ng prices too high..China could be tempted to sell lng to Europe market this fall. With Europe out of storage, USA could lose some lng exports until cold weather again.
freaky warm in a lot of parts of Alberta for October. I saw a mustant wasp yesterday and oct 6th.blooming sunflowers. Seems abnormal so far the weather.
Comment by
pennydredful on Oct 08, 2024 9:27am
Advantage AAV moves to curtail NG production.
Comment by
Hendrick3 on Oct 08, 2024 3:44pm
At current aeco prices, dry gas wells don't cover their variable costs so continuing to produce those wells is bleeding cash. Every operator should be doing that with dry gas wells if the variable costs exceed the sales price. I am surprised there are not more companies making these announcements.
Comment by
kavern23 on Oct 08, 2024 3:55pm
100% agree Hendrick. Depleting reserves on dry gas wells with a variable cost higher than revenue makes zero sense yet alot of operators seem to be doing it. Like where is Pinecliff's announcement? Sure killed advantage energy share price today but it was the right move for them.
Comment by
Helloworld on Oct 08, 2024 7:08pm
On the positive side it seems aeco is finally coming a bit alive. Up near $1.50 yesterday and strip is $2.25 for Nov and Dec. If YGR gets decent drill results should set up for a Q4 quarter similar to Q1 which would mean around 20 to 25 million CF. Q3 for sure will be rough but if they can reduce debt a little over Q3/Q4 they should set up well to hit debt target in Q2 of next year.
Comment by
Hendrick3 on Oct 09, 2024 4:46pm
Aeco near $1.80 at yesterday's close. That almost a $1 in two days. Seems to have bottomed. While I enjoy modest temperatures, I am hopeful for a very cold winter. The torque ygr has on natural gas price increases is phenomenal.