20% production growth and 35% cash flow increase VS 2013.
These are the numbers CNQ will be reporting (more or less 3%) in 2014.
CNQ has so many project lined up for the next 10 years.
How many senior defensive E&P company can say the same.CNQ is in a league of it's own.
Only 17 trading days before they report their Q1 results.
Q1 will be spectacular but the best is yet to come.The environment has never been so favorable
for CDN E&P company.
Their opportunistic aquisition of Devon,Apache and Talisman assets will be accretive in the last
3 quarters of 2014.
CNQ will be trading at $50 + before the end of June.
I am very bullish on CNQ and it is my biggest position.
Sentiment: Strong Buy
Apparently CNQ bought some gas asset in February (Monkman gas from Talisman)
I just wrote to Rob Larson (CNQ ir corp. communications) to confirm this purchase.
It is just amazing to see all the assets that CNQ bought in just the last 2 months.
Devon $3.1 billions on feb. 19th, Apache $375 millions on april 1st and now
these Monkman assets 75 mmcf/ d witch = 12 MBOE / day.
With these purchases,they will exceed 800 MBOE/ d in 2014.
CNQ was already a power house, these asset will fuel their growth profile.
In their early april presentation they say that for 2014 they will produce in a range of
716 to 762 MBOE/d and that the cash flow would be in a range of $8.74 to $8.92
That was before these 3 purchases.
Also these forcast are based on $95.74 WTI and $4.31 AECO.
They will report after the close on may 8th.Results will be spectacular.
Philippe Capelle (V.P.Equity of Standard Life said the following at BNN yesterday.
It was one of his 3 top picks.
CNQ has had a great run, with a 36 percent increase over the last six months, but there is still plenty of room to the upside as it trades at only five times cash flow. With the recent asset acquisitions from Devon and Apache, CNQ has unhedged exposure to natural gas which represents 40 percent of its revenue right when the gas price environment is improving, and will continue to deliver high single digit production growth of oil and gas. This is another resource company that will benefit from this weaker Canadian Dollar environment, and will also benefit from the expected tighter heavy oil differentials. Finally, CNQ would benefit from the potential approval of TransCanada Corp Keystone XL pipeline.
Sentiment: Strong Buy
Got this from another board.I agree 100%.CNQ will trading much higher
in a few weeks.
Many investors having positions in E&P stocks would like to see the price
of WTI,Brent,SCO,Nat gas...at sky high levels.
Actually, i think it would be a bad thing.If price goes too high, it will kill demand and
favor sustitution (coal instead of gas).and it will slow down the economy...
At levels of $90 to $105 for WTI with spread of 17% to 22% for heavy and with
gas at $3.80 to $5.00 we do not hurt the economy and no switch occurs.
At present energy price levels, CNQ will be making record profit and cash flow.
Nasdaq stocks that are trading at bubble prices are starting to go down big time.
This corrrection has an negative effect on the overall market.
But we are seing that stocks that are trading at low multiples are not being hit as hard.
Once the correction over, we will see these value-growth stocks resumes their strong up trend.
With only 4 weeks before Q1reporting i am willing to predict that we will see an increase of
at least 10% for CNQ before they report.
A 10% move would put CNQ at $47.65 and it would be trading at only 5.1 time cash flow.
I think they will easily cash flow $9.25 or more this year so at 6 time CNQ should be trading
For me,CNQ is a conservative no brainer investment.Eventually and i suspect sooner than
later, valuation will rise to a more realistic level.
Sorry for the spelling i am french.
Sentiment: Strong Buy
For those long CNQ,they just bought some more gas assets in western Canada while gas is still
cheap.Combining these assets with their existing huge nat. gas assets make a lot of senses.
They are already one of the company that has the cheapest producing nat gas costs.
Cash flow is growing so much that it is only a matter of time before we see a huge SP increease.
Analyst are just starting to change their Cash flow and profit forcast on Canadian E&P.
Bmo just did it yesterday for Canadian oil sands
30Mar2014 2014 CFPS Estimate 2.64 3.44 +0.80 +30.3%
30Mar2014 2014 EPS Estimate 1.53 2.34 +0.81 +52.9
CNRL’s purchase comes one month after spent $3.1-billion to buy Devon Energy Corp.’s natural gas plays in Western Canada, making it a consolidator. CNRL confirmed it purchased Apache’s assets, and one analyst believes it may have bought them on the cheap. RBC Dominion Securities analyst Leo Mariani said the price Apache received is “slightly weak.”
CNQ is trading at less then 5 time cash flow and growing at a 10% +.It has long life assets
and has made thousands of millionaires in Canada and around the world.
Don't know the reason of your negativness but if it is because you are short you better cover
because you are going to get hurt and that is not a health issue but a hit to your net worth.
CNQ and most of Canadian oil and gas stocks have been lagging big time over the past 6 years.
They are just at the start of a huge upward reevaluation.they will eventually be better priced.
CNQ will generate cash flow north of $9 this year and about $16 in 3 years with free cash flow
of more than $6 in 2017.Do the math, in a year or two CNQ could be trading at $80 + by just applying
a multiple of 5 time.Can you imagine if there would be an expansion of the multiple.
Yesterday was again a good day for the price of SCO and WCS as per
CNQ showed strengh on a weak day caused by Yellen openness.
We could see some short term pullback but the fondamentals are at their best
compared to the past 6 years.
I think CIBC $49 target will be surpass by a lot.
Crude Oil (C$/bbl)
Synthetic Crude $111.92 +$1.12
Western Canada Select $89.01 +$1.48
CIBC World Markets analyst Arthur Grayfer initiated coverage on eight of Canada's largest energy companies, with Suncor Energy Inc. and Canadian Natural Resources Ltd. being his favourites.
Here's his recommendations on all the stocks, along with a brief snapshot of commentary on each:
Canadian Natural Resources Ltd. Initiates coverage with a "sector outperformer" rating and 12- to 18-month price target of $49 (Canadian).
"Canadian Natural stands out amongst its peers for multiple fundamental reasons and from a valuation perspective. The company has a meaningful land position with a balanced portfolio of synthetic crude oil/light oil, heavy oil and natural gas, which offers decades of growth visibility... CNQ has a consistent track record of dividend increases (about 14 consecutive years). We expect the expanding free cash flow profile to fund long-term growth initiatives and support the return of capital to shareholders through continued dividend increases and share buybacks."
Sentiment: Strong Buy
Even with the recent price increase in CNQ, i don't think it is even close to what it is really
worth.I wonder how many investors knows that CNQ is the second biggest producer and owner
of nat gas land in CDN.
In 2013, the production mix was 41% heavy,29% gas,15% light and medium oil and 15%
The 29%nat gas sales generated only 10% of sales.So just do the math.
I think that they will exceed by far their $8.71 to $8.94 cash flow / share forcast.
Yesterday's FirstEnergy quote was$110.80CDN for SCO and $87.52 CDN for WCS
We are finnally seying the light out of the tunnel for CDN producers.
Western Canada producers will be getting better pricing because of the debottlenecking
of Cushing and more ways to move the crude out.
Southern portion of Keystone, doubling of Seaway to 800,000 in may -june, more railcars being
added, Eastern pipeline reversal,BP Whitting going online ...etc.
Eventually we wil get a better price for these valuable long life assets.
Reading more and more article saying that the shale oil and gas have faster decline rates than
thought.It may not be the shale revolution after all.
Again, sorry for the spelling ,i am french and doing my best.
Having been long CNQ for many many years and intend to stay like that for many more to come.
Sentiment: Strong Buy
CNQ has to be the cheapest senior E&P stock right now.
Cash flow of about $9 this year
Anybody seriously following and understanding CNQ knows how cheap the valuation
CNQ is trading right know.In it's latest presentation (march), CNQ is forcasting Cash flow of
$8.74 to $8.92 before taking in account their recent aquisition of Devon's assets.
CNQ and it's peers traditionnaly trades at 4.5 times in depress time and up to 7 to 7.5
time in good time.
Applying a reasonable 6 time would put CNQ share price at about $54.
Eventually, the street will wake up.
CNQ is probably one of the cheapest E&P stock right now.
In the presentation, they forcast FREE cash flow of more than $6 / share in 2018.so this mean
that they will probably cash flow more than $14 / share in 4 years.Applying again just a 6 time
gets us at $84.
Sorry for the spelling, i am french.
I am a very happy and long time holder of CNQ
Sentiment: Strong Buy
No resistance.With Canadian gas at double last year price,CNQ will be reporting
very good results in 2014.Many do not realize that CNQ has the biggest CND land position in gas.
It is 40% gas and the second lowest CDN producer behing Tourmaline.
In the last 5 years got very low profitability from gas.
Very good thing that they did not sale the B.C. acreage.
CALGARY, Dec. 20, 2013 /PRNewswire/ - PENN WEST PETROLEUM LTD. (TSX - PWT) (NYSE - PWE) ("Penn West", "our" or the "Company") is pleased to announce that it has successfully completed its previously announced asset divestitures.
On November 6, 2013, Penn West announced its intention to divest approximately $485 million of non-core assets producing approximately 12,500 boe per day as "phase one" of its divestment strategy related to the Company's long-term plan. Today, the Company announces it has closed a series of transactions to dispose of non-core assets currently producing approximately 10,800 boe per day for total cash proceeds of approximately $486 million. The amount of production to be sold changed as the portfolio of properties transacted was altered slightly. On average, the divestitures were transacted at approximately 5.5 times estimated 2014 net operating income ("NOI") and 1.1 times Penn West's current internal estimate of the proved plus probable producing reserves value discounted at 10 percent. Divested production was weighted predominantly (81 percent) toward heavy oil and natural gas and the proceeds were used to repay outstanding advances on the company's credit facilities.
Penn West's previously announced 2014 average production guidance of 105,000 to 110,000 boe per day remains unchanged at this time notwithstanding the difference in the production disposed in "phase one". Further dispositions are targeted for early 2014 and Penn West will update its 2014 production guidance as significant transactions close.
Dave Roberts, President and CEO commented: "The closing of these transactions further improves Penn West's business by improving our balance sheet at attractive metrics while fully retaining our core asset positions. There was no development of these properties in our plans for the next five years, thus the assets are better managed by the counterparties, providing an economic benefit to both parties. I am pleased we were able to transa
CNQ just hit a 19 month high in Toronto.
CDN energy sector has been a big lagger for the past 5 years.It could very be the star of 2014.
Beleive it or not,i have been a shareholder of CNQ since 1984 and was able to retire
in part because of the huge gain made with this company.
Still my biggest holding.Probably the best managed Canadian energy company.
Nice holidays to all
Did a mistake on previous post.The large short is on the Toronto stock exchange.
27,713,262 up 969,650 at the end of October.Will be interesting to see how much
are still short at the end of november
Cannot be sole responsable for the move.PWE was already up more than 22 cents before his announcement.
Volume is also higher than usual in toronto.
PWE is going up because the downside move was way overdone.Rick George ran Suncor succesfully.
Now, he David Roberts are doing the right move at PWE.Fixing the balance sheet, cutting deep in cost.
With 26.7 millions share shorted on NYSE and 6.7 millions on TSX , short could be scambling to cover.
They will have to fork the 14 cents div. in december.
They aren'ty many stock producing 100 millions + a day and trading at 1/2 book value.
Once the market realize what George and Roberts are turning this company we will see
this stock really moving.
It will take a few months but in the meantime we long are being paid a nice dividend.
Sentiment: Strong Buy
Yesterday, the WCS (heavy oil grade) out of Canada went up by $6.68 and the SCO (light sweet) went up
by $2.98 reducing the huge gap with WTI.CAnadian crude is still trading at a huge discount but CNQ management recently stated as many others that the discount will narrow shortly with Withing refinery back on
and increase pipeline output out of Cushing.
With cash flow of $11 to $13 in 3 years and free cash flow of $7 to $8 with no production risk,huge proven reserve,dirt cheap valuation,CNQ has only one way to go.
Will double in the next 2 years.See you at $60
The monthly production was 433,000.the highest ever achived was385,000 last december.
Mr buffet knew what he was doing
Date Monthly Average in barrels per day (bpd) Year-to-date Average in bpd
3Aggregate July production was reduced by approximately 1 million barrels due to the temporary derating of Enbridge’s regional oil sands pipeline system in the first half of the month.
2Aggregate June production was reduced by approximately 2 million barrels due to the shutdown of Enbridge’s regional oil sands pipeline system.
1Production in April and May was reduced by major planned maintenance across Suncor’s in situ, mining, and upgrading assets.
View 2012 Monthly Oil Sands Production numbers
Sentiment: Strong Buy
The company said in a brief e-mail that it was not making any changes to its annual production targets as a result of the outage at Horizon, Canada’s fourth-largest oil sands mining and synthetic crude processing venture.
It has forecast oil sands production of 105,000 to 115,000 barrels a day for 2012, and overall oil and gas liquids output of 464,000 to 504,000 barrels a day.
The work at the plant, which is said to be concentrated on one of the fractionation towers, follows weekend maintenance at the site, the source said.
Only 400 shares traded to bring it back frrom down $1.06 to down 16 cents.
This is a very expensive stock.
do your homework before commiting $$$
This is a dog.they can't make serious profit
with gold at an avg, of more then $900 in
Even though AEM will be increasing production in the next few years, i don't think it is a sound investment.
They mist again this quarters.
I feel buying gold offers better protection.
This cie,is in fact only getting 43% of it's revenue from gold.Balance is 15% silver,25% zinc and 17% copper.
These figures are based on Q2 results.
Again,AEM was not able to provide good earning with gold at an average price of $903 in Q3.
What will it be in Q4?
They now show $300 million of LTD to finance their future project but they will need a lot more.
I just don't see how they will be able to turn a profit for shareholders.
I was reading results of COS.UN after the close and Marcel Coutu (CEO).Here are some of his comments
"As well, the turmoil in the financial markets has reduced the availability of new debt and
substantially increased interest costs."
"Should bank facilities or debt markets not be available to
fund our mid-2009 debt maturities, further distribution reductions may be
required in order to fund maturities out of cash from operating activities."
In this environment AEM may have big problem to fund it's project.The $300m will not be enough.
With no or minimal profit,cash flow negative,this speels problem for AEM.Even with the recent tumble,
this stock is still trading at a very rich valuation.
IMO,this stock could be cut in half or more before year end.
The Canadian gold producer, which mines zinc as a byproduct, earned $14 million, or 10 cents a share, in the quarter ended Sept 30. That was up from $11.5 million, or 8 cents a share, in the year-before period.
Stripping out the currency gain and other one-time items, the company earned 6 cents a share. That missed expectations of a profit of 8 cents a share, as polled by Reuters Estimates.
Gold production rose 23 percent to 68,753 ounces, while realized prices during the quarter climbed to $903 an ounce from $748.
Cash costs were $240 an ounce, up from minus $307 an ounce in the year-before quarter, as plunging zinc prices eroded the value of the zinc production that Agnico uses as a cost offset.
4:33PM Agnico-Eagle Mines reports Q3 (Sep) results, misses on revs (AEM) 27.06 +2.58 : Reports Q3 (Sep) earnings of $0.10 per share, may not be comparable to the First Call consensus of $0.08; revenues fell 12.5% year/year to $91.7 mln vs the $109.2 mln consensus