For SAGD $45 -$50 everything that is built can maintain production and it makes sense to invest in new pads to sustain current production. I don't see CPF's (new facilities) being built or expanded at that price unless one of the alternative technologies using solvents really takes off.
But $45 - $50 would mean no more job losses and some marginal rehiring and certainly drilling programs restarting to sustain production.
|