Natural Gas Prices Will Remain Low To Force Tighter Balances In Shoulder Season [Seeking Alpha]
Cenovus Energy Inc (CVE)
Last cenovus energy inc earnings: 4/29 06:00 am
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Source: Seeking Alpha
While we believe that the bottom ($1.50/MMBtu) will hold, low gas prices are needed in order to tighten balances going forward. At ~102 Bcf/d, injection gas balances point to a deficit of 1.5 Bcf/d. This would push storage to ~4 Tcf by November. Looking for a helping hand in the market? Members of HFI Research get exclusive ideas and guidance to navigate any climate. Learn More » We are of the view that the market has succeeded in figuring out what natural gas price was needed to shut-in production. And while this helps market participants understand where the bottom is (around $1.50/MMBtu), it doesn't imply that natural gas prices ( NG1:COM ) will rebound meaningfully anytime soon. In our NGF last week , EQT announced that it will reduce production by ~1 Bcf/d in March. But as we cautioned, the market rally on the heels of production cut announcements may be self-defeating. For now, the price recovery is coming on the heels of announced production cuts, but the reality is
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News
- Cenovus subsidiary fined $1.83 mln for 2018 Canada oil spill [Reuters]Reuters
- Cenovus fined $2.5-million for role in biggest oil spill in Newfoundland and Labrador history [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Cenovus to hold first-quarter conference call and webcast, virtual annual meeting of shareholders on May 1GlobeNewswire
- Here's Why Cenovus Energy (CVE) is a Strong Momentum Stock [Yahoo! Finance]Yahoo! Finance
- Canadian Natural: Resilience And Returns Through The Cycle [Seeking Alpha]Seeking Alpha
CVE
Earnings
- 2/15/24 - Beat
CVE
Sec Filings
- 3/27/24 - Form 6-K
- 3/27/24 - Form 6-K
- 3/27/24 - Form 6-K
- CVE's page on the SEC website