Any ideas/rumors on what assets will be sold?
25 replies (most recent on top)
YOU the Staff is the only asset lost
Lol
Don't worry CNQ will buy all of the terrible "assets" and apply the PennWest formula to accounting for operating costs.
Pipestone was the only solid deep basin property CVE ever had. The rest is dry gas trash. Keep making those PowerPoints though, that’s adding value.
Facts!
CVE has 70% of the merged asset base with 30 people in Deep Basin.
HSE has 30% of the merged asset base with ~55-60 people in Deep Basin.
You do the math!
Also, when doing that math, factor in who can do things more efficiently, and bring down Op Costs!
Well, if they sold Conoco’s Pipestone, which was far superior to the existing Husky Montney assets, then I’d think that is the first asset to go! It’s lower pressure, less liquids, sour, and has the same capacity constraints. No brainer! Sell it to Ovintiv for 40 cents on the dollar! Again, it’s the only asset in the Husky portfolio that has any immediate monetary value! If we wouldn’t have sold Pipestone, the Husky Montney Assets would be direct bolt on and we would actually have a major position in the Montney! Whoops!!!
It still boggles the mind how clueless Cenovus employees are with respect to the Deep Basin! Seriously, pull your heads out of your sanctimonious a$$es! AECO is at $3.00 and most remaining DB assets can make >100% ROR on new drills. Could you brainiacs in FCCL say that in April?
And don’t forget the great Lima facility which may be out of service for up to a year. Great buy Alex.
Grande Prairie and Edson are getting divested Q2
FCCL is only thing that might still be worth something, it the buyer doesn't look too close.
People keep talking about the deep basin assets, but we have "so much" expertise in that area....don't we?
Deep Basin is on the block...
The entire company is full of uninformed bums... that's why it's such a failure
Sunrise, Rainbow, Tucker, Whiterose, conventional/deep basin, Borger, Superior.
Don't be surprised when FCCL goes.
- An Uninformed Bum
This thread is full of a bunch of uninformed bums. Pure comedy. Fccl..really. Wow
Midstream has been its own company since 2017. Too late.
Rainbow lake and Atlantic Canada
FCCL and Lloyd midstream are the only two assets they won’t consider selling.
Don’t worry those weasels are going with , be Leary of move to oil sands it’s not the big promotion they claim it to be
This is a dumb thread as no one is buying anything unless it’s being given away and Alex won’t do that. They would only be in a selling mood if our debt gets out of control again. Saying that who the hell wants the retail stuff? That’s probably gone.
I have heard that FCCL is on the block too. It's trying to be kept quiet, but there are too many weasels and sieves in the know at CVE.
I work in Calgary in the acquisition and asset development department and rumor is fccl is priced to sell
Waterfloods?
Deep Basin now includes approx Husky 500 wells with 1 plant Corser!! 4 Forman for 1 plant and 5 leads.
Ha. Can't sell any of the deep basin junk we got from Conoco. That being said CNRL will buy just about anything if the price is right.
My guess is we will have to give away a lot of this c-ap.