I didn’t think it was possible but Go Go has made a good move. The purchase of Cenovus 50% stake in WRB should have been done a long time ago.
It just goes to show that even a broken clock is correct 2 times a day.
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It’s early but from the moves P66 has made lately, buying WRB, starting a NGL Trading Group, it looks like the 2 Elliott directors are having some positive affect on the direction the company is moving in.
Hr troll
Our ELT is objectively garbage, but that doesn't mean they can't make a good call every now and again. Sheesh, you guys bi--h that they're not investing in refining and now that they are you bi--h about that.
Buying $hit just to run that bîtch into the ground.
Taking on more debt to increase one’s ego.
There's absolutely expansion left mid-con.
There is no expansion left here state side. The profit lies in reliability. Not expansion. Outrun your competitors or be eaten.
He wouldn’t know that based upon putting no money back in the kits’ reliability and ta’s.
Just putting the chess pieces in place for a bigger sale later. P66 will eventually get out of the refining business.
They want to throw in some pretty big crude expansion projects at these refineries. That'll be easier without coordination with Cenovus. This is absolutely a win.
We just bought a mid sized refinery (equivalent) for $1.4b. I agree especially these two assets. Elliott probably approves so I want to disapprove but on this move GoGo was right.
I agree, he just wants total control to run this one into the ground. Largest controllable cost. Get ready to be thinned out like the elt’s receding hairline.
He only wants it so he can run 100% of it into the ground like our other refineries
May be a technical to look at it but they are purchasing “WRB”, which is Wood River and Borger. It will certainly make the sales to 3rd parties much easier/
Not sure how much GoGo had to do with it except not get in the way.
Strongly agree. This is a good call. Glad to see it for once.