did the data room open finally? who is the buyer?
17 replies (most recent on top)
I am dancing in the rain... to save shower water and help the city. Oh yeah, no news on the buyer.
any latest news/updates?
2024 midstream commitments are deferred, read the latest KD 1 monthly report.
What about the midstream commitments? Still gonna have to drill to fill.
Most likely how kitimat ended up to be! Cut down all expenses, maintain bare minimum until they find a buyer! future state org will be implemented by the year end
If the efforts to sell KD truly failed, wouldn't they suspend the operations regardless, to cut the overall cost? Still hoping they will proceed with EOI and severance packages as per "CBU future state" reorg. Will Bruce N announce something and provide some clarity during his upcoming visit in June ?
It would take a Canadian company to buy it; everyone else tends to forget Canada...
Interest or not, it would be a shocker if the sale were to actually complete in 2024 the pace it is going at. Curious if they will continue to get funding for 2025 or if the DUCs will start piling up.
If we can't shake up any interest in clearance-bin CBU, just imagine how little interest they'll be in $$$billions SJVBU remediations!
Looks like there's not much of an interest, the sale may not happen in 2024!
Who wants cr-ppy east Duvernay land. West is too deep so the economics won’t work. Wirth is goosing the stock price selling off anything and everything. Maybe rein in the PSC t$&t’s who ran the MCP’s into the ground. But I forgot, this is chevron where we promote ineptitude and idiocy.
CBU sale is more to get rid of a low-reserve, high-margin BU, and rid the company of all the issues @1qij mentions. Profit will be minimal if anything.
Apparently we have had to really low ball offers that didn't go anywhere. Not looking good at this point.
A buyer doesn’t have to take the employees. That’s a little harsh of a brush stroke to paint the whole business unit with, there’s good people across all areas. Unfortunately, it’s the bad ones, incompetent or low performers who are never dealt with who bring everything else down
Who is the entity willing to spend any money to acquire a dysfunctional organization? Who wants to acquire an FE team that is bloated with non-talent? Who, in their right mind, wants to deal with CBU HR or the mess they create or the blood trails they leave behind on any issue they touch? Who wants to deal with a very bureaucratic and incompetent supply chain team? The only saving grace is the hardworking operators in Fox Creek and Whitecourt. Whoever takes over this mess needs to clean and cleanse all of the above and keep only the O&M crew. The rest are a waste.
What assets are included in CBU?
They say data room is open. Getting the sense there is going to be very little left of CBU at the end of this, wouldn’t be surprised if they sold the building too if they can. Whitecap and CP have said in media they won’t be participating.