FirstEnergy’s updated commodity price forecast has resulted in significant increase to our cash flow estimates for 2Q15e for our group, driven by strong Canadian oil prices. Beyond this quarter we are calling for heavy oil differentials to be narrower than previously forecast, and as a result our cash flow estimates beyond 2015e have increased (see Martin King’s notes on oil and gas). Estimates for names with the highest leverage to heavy oil prices (i.e. MEG, CVE, CNQ, PXX) see the largest lift ....
25 Jun 2015
Commodity Price Deck Update: Impact for Canadian Integrated Oils, Senior E&Ps, Oilsands
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Commodity Price Deck Update: Impact for Canadian Integrated Oils, Senior E&Ps, Oilsands
Cenovus Energy Inc. (CVE:TSE), 0 | Imperial Oil Limited (IMO:TSE), 0 | Suncor Energy Inc. (SU:TSE), 0 | Canadian Natural Resources Limited (CNQ:TSE), 0 | Encana (ECA:TSE), 0 | MEG Energy Corp. (MEG:TSE), 0
- Published:
25 Jun 2015 -
Author:
Michael P. Dunn -
Pages:
15
FirstEnergy’s updated commodity price forecast has resulted in significant increase to our cash flow estimates for 2Q15e for our group, driven by strong Canadian oil prices. Beyond this quarter we are calling for heavy oil differentials to be narrower than previously forecast, and as a result our cash flow estimates beyond 2015e have increased (see Martin King’s notes on oil and gas). Estimates for names with the highest leverage to heavy oil prices (i.e. MEG, CVE, CNQ, PXX) see the largest lift ....