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Thread: Oil and gas consolidation 2021

  1. #41
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    Quote Originally Posted by ExtraSlow View Post
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    CNQ can make as much gas as it wants from existing lands. Probably cheaper than buying Peyto too. OVV only makes sense if they are doing it as asset sales, not a corporate transaction.
    That’s actually the point, production is currently valued at such low metrics it’s actually cheaper to buy it than drill for it. In some cases.

    That and by buying production you currently get a free option on upside since no one is paying for undeveloped locations anymore no matter how prospective. Murray loves him some free options, that how you make real money.

    Never been a greater time to have cash lying around.
    Originally posted by Thales of Miletus

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    Quote Originally Posted by riander5 View Post
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    Tamarack about to be bought or merge I hear....
    Tamarack buying assets.

    https://www.newswire.ca/news-release...876000898.html
    Quote Originally Posted by Tik-Tok View Post
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    I'd be lying if I said I didn't disagree.

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    Quote Originally Posted by ExtraSlow View Post
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    I know, already said it.

    On another note, has anyone ever looked at TVE on the NYSE by accident when typing TVE into their trading platform?

    That baby just keeps going!

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    Shell just sold Duvernay stuff including Fox Creek to Crescent Point for 700M USD. Seems they continue to slowly pull out of upstream in Canada

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    Spartan Delta has been buying too v
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    I'd be lying if I said I didn't disagree.

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    Quote Originally Posted by sabad66 View Post
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    Shell just sold Duvernay stuff including Fox Creek to Crescent Point for 700M USD. Seems they continue to slowly pull out of upstream in Canada
    Shell gone by year end. (in Canada)

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    Quote Originally Posted by mr2mike View Post
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    Shell gone by year end. (in Canada)
    They still have the Pieridae issues to deal with. Not going to be that easy I don't think.

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    That shell duvernay stuff is pretty juicy. Nice wells.
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    I'd be lying if I said I didn't disagree.

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    Quote Originally Posted by ExtraSlow View Post
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    That shell duvernay stuff is pretty juicy. Nice wells.
    Group buy?

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    Lfg cpg!!!!!

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    Looks like Ovintiv turfed a big chunk of duvernay as well
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
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    Who bought from ovv? Didn't see the buyers name in the release.
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    I'd be lying if I said I didn't disagree.

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    Quote Originally Posted by mr2mike View Post
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    Shell gone by year end. (in Canada)
    Downstream and LNG Canada are pretty solid still so don’t think a complete exit out of Canada will happen. They also need groundbirch to supply LnG Canada so that will still be around. Any new upstream exploration tho, not very likely.

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    Quote Originally Posted by ExtraSlow View Post
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    Who bought from ovv? Didn't see the buyers name in the release.
    It appears that was intentional
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
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    Sounds like CNQ's system, although hard to imagine them winning a bidding war, and those should have been attractive assets, I think.
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    Quote Originally Posted by sabad66 View Post
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    Shell just sold Duvernay stuff including Fox Creek to Crescent Point for 700M USD. Seems they continue to slowly pull out of upstream in Canada
    Why is Crescent Point acting like they have money again? I thought they were flat ass broke.
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    Pretty standard CPG playbook. Keep buying things to obfuscate to your shareholders how shitty your track record and financials are.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
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    Yeah I thought they were big time fucked though when they stopped buying and started selling all (edit: not literally "all") their SE SK stuff.

    Whatever, I'm out of the oilfield, hopefully permanently, and I'll never have to bother with Crescent Point ever again.
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    Quote Originally Posted by SKR View Post
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    Yeah I thought they were big time fucked though when they stopped buying and started selling all (edit: not literally "all") their SE SK stuff.

    Whatever, I'm out of the oilfield, hopefully permanently, and I'll never have to bother with Crescent Point ever again.
    I haven't been following Canadian industry much but with all the global stimulus and potential for governments trying to squirm away from the debts/deficits through inflation, a commodity supercycle may well already be underway.

    CPG may just be choosing the coinflip - heads we're still fucked, tails we time some stellar cash flows and fix our balance sheet.

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    Quote Originally Posted by lasimmon View Post
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    They still have the Pieridae issues to deal with. Not going to be that easy I don't think.
    Forgot about that. I'd say that really is the only issue.

    Duvernay stuff is too expensive to D&C.
    ExtraSlow is frothing at the mouth because he loves a good expensive completion

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