I3 bought some assets in central Alberta today..
5 replies (most recent on top)
If Cenovus is smart, they’ll continue to sell non-core assets like the ones recently sold, and focus capital in 2 or 3 main play types. With AECO gas north of $4/mcf and oil trading in the high 60’s to low 70’s, now is the time to develop the core assets in Deep Basin/Conventional!!! By the way, changing the name from Deep Basin to “Conventional” was NOT smart….given the assets are largely unconventional (Spirit River Tight Gas Sands, Montney, Dunvegan Tight Oil).
They moved the Legacy Husky VP over to conventional to spin it off!! Cenovus is keeping their key players!!
So should the people in those assets be happy because a company wants to invest in them? I think so. I have read in this forum multiple times and it always sounds like oil sands people whining. Can you not realize you are not in a exploration and building phase. The money is gone and they are trying to produce the product at the lowest cost. The wallet is closed.
I'd hate to be the Legacy Husky person recently named to the position of VP Conventional.
This will be the first of many in conventional, all of conventional will be sold off within a year