Official (Alberta) Oil Discussion Thread

[Bob]

Surprisingly, Cenovus says the purchase cost is $17.7B ($14.1B cash, 201M shares).

http://www.cenovus.com/news/news-rel...quisition.html

Maybe Conoco's news release only considered Alberta assets.

[GGG]

Canada vs US dollars? 13 * 1.33 is 17.3

[I-Hate-Hulse]

Man... Gulf Canada Square is going to be a ghost town.... First CP gone and a greatly reduced Conoco.

Maybe the Calgary Labs in GCS can expand their size on the cheap...

[Ozy_Flame]

Lets just convert a downtown office tower to a residential tower and offer cheapo rates!

[keenan87]

Originally Posted by I-Hate-Hulse

Man... Gulf Canada Square is going to be a ghost town.... First CP gone and a greatly reduced Conoco.

Maybe the Calgary Labs in GCS can expand their size on the cheap...

Well, hopefully Cenovus takes on some people and the Bow building might start looking fuller....

[red sky]

Cenovus is moving to the new Brookfield building

[username]

Another international O&G producer fleeing Alberta.

At what point is our government actually going to do something to stimulate investment? Is it 2019 yet? How much worse is it going to get?

[polak]

Yeah NDP, figure out a way to make Oil break $60 you clowns.

(although I agree they should be trying to stimulate some growth in the O&G sector, I just think their hands are tied besides lowering corporate taxes, which is the opposite of what they ran and were elected on)

[username]

Originally Posted by polak

Yeah NDP, figure out a way to make Oil break $60 you clowns.

(although I agree they should be trying to stimulate some growth in the O&G sector, I just think their hands are tied besides lowering corporate taxes, which is the opposite of what they ran and were elected on)

You think oil at today's prices is the reason global companies are taking their money and investing it in the same product elsewhere?

Same product.....same price......what's different? what changed?????

[username]

Here's a hint Polak......

http://www.cbc.ca/news/canada/calgar...tion-1.4046020

Wall cites reductions to corporate and personal income taxes promised in his recent provincial budget as further incentives, adding that his government has no intention of implementing a carbon tax, unlike Alberta's.

[GGG]

Originally Posted by username

You think oil at today's prices is the reason global companies are taking their money and investing it in the same product elsewhere?

Same product.....same price......what's different? what changed?????

The capital intensity of our projects is significantly higher than shale. The drilling cost reductions on the shale side were far more significant than the facility cost reductions realized on the SAGD sides. Long timelines for payback compared to shale where you get your money in and out quickly. The best reservoir being owned by currently producing assets and the realization that marginal assets at current prices do not warrant a 20-40 year investment.

[username]

Originally Posted by GGG

The capital intensity of our projects is significantly higher than shale. The drilling cost reductions on the shale side were far more significant than the facility cost reductions realized on the SAGD sides. Long timelines for payback compared to shale where you get your money in and out quickly. The best reservoir being owned by currently producing assets and the realization that marginal assets at current prices do not warrant a 20-40 year investment.

You're right. So adding on a carbon tax, increases to corporate taxes, higher personal income taxes and no access to global markets is going to help us compete globally? Or even with Sask?

Hence my comment - when is this government going to do something that actually helps Alberta become more competitive?

[polak]

Alberta has the same corporate tax rate as Saskatchewan and has no PST on the personal side. The fact that BC and Quebec don't understand how the Canadian economy works and won't build the pipelines isn't really the NDP's fault.

What do you want them to do? Cut taxes even though they were bleeding money before the NDP started spending?

The really unfortunate part is that Oil prices fell through the floor on an election year. Agenda's would've been much different had the election been in 2016.

[burn_this_city]

Originally Posted by username

Another international O&G producer fleeing Alberta.

At what point is our government actually going to do something to stimulate investment? Is it 2019 yet? How much worse is it going to get?

Conoco still has Surmont and other properties producing 120kbpd

[burn_this_city]

Oil back over $50 this morning.

[Ozy_Flame]

Originally Posted by username

Here's a hint Polak......

http://www.cbc.ca/news/canada/calgar...tion-1.4046020

Where's the incentive to convince an entire fleet of company workers to move from Calgary to Saskatchewan? That would be amazing in itself. Unless Wall thinks that the can re-populate these offices with Saskatchewan locals ...

You'd have to sweeten the Albertan transplant's pay by at least 6% just to get them to accept the PST imposition. Then you'd have to pay them 15-20% more just to convince them to move to Regina or Saskatoon.

[username]

Originally Posted by Ozy_Flame

Where's the incentive to convince an entire fleet of company workers to move from Calgary to Saskatchewan? That would be amazing in itself. Unless Wall thinks that the can re-populate these offices with Saskatchewan locals

You must be too young to remember the good ol days.....I remember when there was incentive to actually move a fleet of 500 workers from Toronto to Calgary....

http://www.theglobeandmail.com/repor...ticle25680040/

[Ozy_Flame]

Originally Posted by username

You must be too young to remember the good ol days.....I remember when there was incentive to actually move a fleet of 500 workers from Toronto to Calgary....

http://www.theglobeandmail.com/repor...ticle25680040/

I remember this well.

From one Canadian to another; moving to Calgary in 2005 is a much different story than moving to Saskatoon or Regina in 2016.

[The Fonz]

Originally Posted by Ozy_Flame

I remember this well.

From one Canadian to another; moving to Calgary in 2005 is a much different story than moving to Saskatoon or Regina in 2016.

I'd imagine Torontonians would feel the same way about moving to Calgary as Calgarians would feel about moving to Saskatoon.

[Bill Bumface]

I think the proximity to the Rocky Mountains helps us more than we give it credit for. Lots of Torontonians justified the move because of cheaper houses and access to nature.