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Penn West Petroleum Ltd. Message Board

  • infinitidrivr infinitidrivr Aug 6, 2013 7:43 AM Flag

    PWE and Natural Gas

    It is well known that PWE's natural gas reserves are substantial. The price of natural gas in Asia is $16 vs. under $4 here. Within the last week, this was mentioned in the WSJ last week and more importantly, the article discussed the beginning stages of infrastructure development and investment in Alberta, British Columbia to export natural gas from Alberta to Asia via West Coast. The article mentioned, Chevron, Exxon, Malaysia, China....still kind of beneath the headlines but the big money is all over this. Shipments from Canada would be 8 days less than the Gulf of Mexico.

    Sentiment: Strong Buy

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    • I think a pipeline is the most environmentally "safe" way to transport. ie no moving parts until it gets on a ship and then its asia's problem. Just need prices to hold long enough for a project to get approved. I would think Canada would want the revenue stream the increased production would bring

    • Yes. Canada needs to diversify its energy exports away from dependence on the USA. Asia needs more natural gas. However, eventually, Asian prices could also fall as more and more gas is produced. So, it is tough to make a long term investment plan. Keystone--blocked by an unholy alliance of infantile environmentalists and people who don't want the Canadian imports to screw up their current deals. The real dirty business isn't the bitumen; its this alliance. Some say Buffet's railroads are part of it since they haul fuel. However, it makes sense for Canada to improve its ability to sell to Asia. My guess is that energy prices will fall before rising with the improving world economy next year.

    • Yes, and Obuma does not want the Keystone pipeline.

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