Re: OPEC Numbers
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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta
Message: Re: OPEC Numbers
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well said.
Even if oil drops this year, CLL is hedged for 5000 bbl/d until end of year, which is just over 60% of production. Even if oil hit $60 in 2011, algar would be on line and cash will still be good. My bet though is oil will be about $90-$95 1st quarter of 2011, and CLL will hedge again to protect downside, giving cash to expand in 2012.
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