Just a guess but seems COP Calgary is holding on to employees to take care of production until their assets are sold in the Summer. I believe the buyer will be CNRL and its already a done deal because they believe prices will begin to stabilize and increase. Then staff will be needed to prepare the files for a closeout. If there is no business plan below $60.00 a barrel and all we have is bitumen where its selling for $12.00 a barrel. Gas is under $2. Seems simple COP will not stay where they are not making money.
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2cdq
Read the statement about hedges
2prj - read the statement of cashflows
You geniuses all need to go back to school.
WCS low over the past 12 months was $17.88 USD. That's about $24 CAD OK? NOT $12
http://economicdashboard.albertacanada.com/EnergyPrice
FCCL avg op cost about $11 CAD / bbl
http://www.cenovus.com/invest/docs/corporate-update.pdf
Maint Capex - built in the Op Cost
Pipeline cost ? about $5 CAD
Debt Service - paid out whether we produce or not.. the more we pump, the less debt / bbl
Profit and Cash Flow are not the same thing.
I said November 12 posts ago..... not rocket science
If oilsands Op costs are 10 bucks, where were those money went to last couple of years... clearly those guys claimed only cost 10 bucks to get heavy oil out is dreaming. Don't want say a number as i really know that.
I'm just replying to some of the previous postings - play nice.
The shutdown condition for oil sands is:
realized oil price ($12) - transportation to hub - operating cost to produce ($10) - maintenance CAPEX - debt service for loans secured on oil sands = underwater
@1xhv this faggot cunt sound extremely butthurt. Would you like a cookie?
And you sir are a f---ing clown! You probably where your headphones at your desk like a f---ing idiot that you are you sack of shit!
what a bunch of dumbasses in this thread. None of you know shit
oeb - doesn't help if Western Canada Select (oil sands oil) is sold at $12/bbl.... ! Oil sands does not get WTI or Brent benchmark pricing. !
CPC Canada has more fat then Oprah Winfery
COP is not interested in Canadian assets. Clearwater is next on the block....rest to follow.
Doesn't matter if your cost 10-15bbl the proof is in the pudding.... Debt doesn't go way if you owe more than you are cash flowing. Simple economics. Fat will be cut!
Every expert likes to spout about oil sands being high cost, with numbers like $65 / bbl as solid proof that COP is going under. But, here's the problem with that, It only costs "about" $10/bbl to produce! That's right, only $10 C, plus or minus a loony or two. The $65 price includes the capital to develop the reserves (done already), to design and build the facilities (also done) and to drill the wells (mostly done). All that capital is sunk cost, it came out of the last six years cash flow. So... at, say, $15/bbl, every bbl is 4 or 5 bucks POSITIVE CASH FLOW! COP will pump as much as possible to get that cash flow and survive ............. On the subject of Calgary layoffs, if there are any under utilized personnel still there, they will probably be given more to do or be laid off.
I heard they are doing selection for layoffs in Calgary as soon as March, yeah next month. Don't believe what they tell you.
clearly you know nothing about oil sands. Despite it being sold at a discount, it is a long term play spanning decades unlike shale plays. So no they will not sell oil sands. Not about WCBU though, do you have a source or just talking out of your ass.