DEVON ENERGY TO SELL CANADIAN OILFIELD ASSETS.
How is Canada doing? What's it like up there?
6 replies (most recent on top)
Assets will be under much scrutiny in the data rooms. A history of less than optimal production methods will likely be an issue (only SAGD producer to gas lift wells en mass).
Canada was never treated seriously because the government/politics is horrible. You invited companies to invest billions then deny them a means to bring the product to market (trans canada), collapsing the regional prices crude.
And let’s not forget president Obama, who vetoed keystone XL multiple times and laced our courts with judeges that impede any progress.
In general everyone is happy in the field; will be nice to work for an integrated company and watch the middle management squirm. Also, there will be at least a retention package and LTIs will fully vest. I would be nervous if I was in the Calgary office - Envision a blood bath...
It’s frickin cold up here, what do you think it’s like.
Some people are worried, some people are happy. I think it’ll most likely be a good thing, Devon hasn’t really seen us as a core part of the business for years and it’ll be nice to be working somewhere more committed to the oil sands.
Celebrating. It will be much much much better to be part of an integrated producer.