Re: Some interesting read
in response to
by
posted on
Apr 22, 2011 11:05AM
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
I am not sure what you mean by not much time left.
Another positive these days is the increase flow in Enbridge line. This means more crude flowing which should decrease light/heavy oil spread which tends to lead to higher bitumen pricing. Bitumen has been inching up. When the June contract runs out we will also see $15/bbl more for 2000 bbl/d, from hedging contracts. Even though we are getting beat up on these that still means $30000 more a day at wti, or about $20000 a day at Dil-bit.
Always a big unknown is production. If they come out with production near 16000/bbld in April, and lower light/heavy spread, SP will touch near $2.00.