Yep, it's official. Who is the buyer? How long do we have? Do you think we will be done quick or dragged on by the end of year?
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I hope we can get a lot of cash and a quick sale. We could use the money for CNE.
Don't mean to say, 'I told you so', but, I told you so. MW strategy is to close marginal operations and BUs, one by one.
If only Kitimat had moved forward.
There was a town hall today. No buyer yet, just an announcement that Kaybob Duvernay will be marketed. I think most people appreciated the transparency from Leadership rather than only finding out once the deal is done. CM seemed pretty sad to see this happen and I know a few other leaders were visibly shook up too. Sad day for CBU but the hope is someone picks it up that has the capital to spend on developing the asset.
CBU still has NOJV in the oil sands and Atlantic Canada and those aren’t part of this. Plus a significant asset retirement portfolio (that seems to have always flown under the radar) that will need to be managed too. It’ll be back to a super small BU like it was between 2001 and 2011.
What’s the size of the workforce in Calgary? And was Duvernay the only game in town? Is there even an office there anymore once this happens?
The “large scale unconventionals” projects cannot ignore Argentina anymore. Permian is starting to look mature and perhaps already peaked, same story for Hess’s Bakken acreage.
Ironically, the Vaca Muerta may become the new Permian for us, especially now under Milei’s anarco-capitalist presidential mandate
That was a logical step way overdue given high development cost and limited production scale. Better to focus on large scale unconventionals and put all effort and capital on it. I assume the assets in Argentina would be next similar to ExxonMobil.
Where is that reported?