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Bargain Prices For Oil And Gas Companies As They Hit The Discount Bin | CBC News

November 2, 2019November 2, 2019 mdbincbi

It was a rough week for the Canadian oilpatch, to say the least, with the Keystone pipeline shutting down after a leak, Encana deciding to become American, and a new drilling forecast for 2020 that is woeful at best. To cap things off, Pengrowth Energy announced its pending sale. The Calgary-based company was a homegrown success story and was once worth billions of dollars. Its share price was more than $13 in 2011. Read full story here: Bargain Prices For Oil And Gas Companies As They Hit The Discount Bin…

Canadian Oil Selling At A Deep Discount – And It Hurts – Business – CBC News

January 20, 2018 mdbincbi

North American oil prices are marching toward $65 US a barrel this month, giving the industry a boost after the market collapsed three years ago. The oil sector hasn’t seen these prices since late 2014, but most companies in Alberta are receiving significantly less, just above $40 US a barrel. The Alberta oilpatch continues to increase oil production, but as pipelines fill up, companies are receiving less money for their oil compared to the rest of the continent. While there is always a gap between the North American benchmark, West Texas Intermediate (WTI),…