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Some producers 'brutalized' in energy stock sell-off: Canadian crude prices cause concern

Calgary Herald -- Forget spring breakup, a sell-off in oil producer stocks that began in the winter is persisting this spring, irking oilpatch investors and executives heading into the second quarter.

It's the time of year many CEOs blame soggy soil that thwarts drilling plans for lower production numbers. This year, they're more worried about the price of Canadian crude.

Oil-weighted producers based in Calgary have lost anywhere from 10 per cent to nearly half their market value in the last month as investors flee energy stocks. Money managers are pointing, in part, at steeply discounted Canadian crude prices.



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Submitted Apr 08, 2012 By: rx7racerca
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Some producers 'brutalized' in energy stock sell-off: Canadian crude prices cause concern Back to Topics
REPLIES (newest first) Post a Reply
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lgwhitlock
Champion Author Chico

Posts:9,159
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Message Posted: Apr 8, 2012 2:00:05 AM

The Canadians are getting less for their oil right now because of transportation issues. The pipeline to the US would have helped but now they need to look at options to export to other partners others than the US. It takes a lot of investment to reap the rewards...
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Pozole
Champion Author Portland

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Message Posted: Apr 8, 2012 1:53:06 AM

...wannnh...
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bdlewis
Champion Author Colorado

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Message Posted: Apr 8, 2012 1:45:06 AM

Drill Now
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RockCity
Champion Author Denver

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Message Posted: Apr 8, 2012 1:41:19 AM

Next quarter the buyers will be back and they will create jobs, oops, I mean make another 4 mil, and the beat goes on, perhaps.
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SUPPER
Champion Author San Bernardino

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Message Posted: Apr 8, 2012 1:40:48 AM

Nobama
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OldMan322
Champion Author Illinois

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Message Posted: Apr 8, 2012 1:40:39 AM

"findcheap" It looks thay way
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bluegrasser1
Champion Author Richmond

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Message Posted: Apr 8, 2012 1:40:33 AM

They knew what they were doing.
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mcmonsta
Champion Author Honolulu

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Message Posted: Apr 8, 2012 1:40:31 AM

someones still making money off of this play
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Double_Golden
Champion Author San Francisco

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Message Posted: Apr 8, 2012 1:38:04 AM

ok
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Scoutca
All-Star Author Orange County

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Joined:May 2004
Message Posted: Apr 8, 2012 1:29:50 AM

Makes you wonder some time what they were thinking!
Or if they even were thinking eh???
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runner74
Champion Author Washington

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Message Posted: Apr 8, 2012 1:28:56 AM

No one said anything when they were running up at a ridiculous rate.
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fireless1
Champion Author Atlanta

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Message Posted: Apr 8, 2012 1:27:04 AM

Yep
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bart_reed
Champion Author Los Angeles

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Message Posted: Apr 8, 2012 1:21:52 AM

More oil for the Chinese.
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10k
Champion Author North Carolina

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Joined:May 2006
Message Posted: Apr 8, 2012 1:15:56 AM

and prices went up between 2-10¢ yesterday-gotta get that holiday gas loot..

too bad a good majority of peeps are staying put-snicker..
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Gas Thirsty
Champion Author Los Angeles

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Message Posted: Apr 8, 2012 1:15:12 AM

Brutal is right.
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findcheap
Champion Author Los Angeles

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Message Posted: Apr 8, 2012 1:14:12 AM

market speculation forces on downside
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djgunrunner
Champion Author Salt Lake City

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Message Posted: Apr 8, 2012 1:13:47 AM

If the deeply discounted crude prices are up there they are not coming to the states and if they are then the speculators and big oil got us again.
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Dsin44
Champion Author Abbotsford

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Message Posted: Apr 8, 2012 1:11:25 AM

hard to feel sorry for them a 4$ a gallon
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wilbur_gas
Champion Author Los Angeles

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Message Posted: Apr 8, 2012 1:05:55 AM

Interesting read
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gudrench
Champion Author Houston

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Message Posted: Apr 8, 2012 1:01:33 AM

It's a risk they take. No whining.
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GigHarborHound
Champion Author Tacoma

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Message Posted: Apr 8, 2012 1:00:07 AM

OK
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singlemom27
Champion Author Ventura

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Message Posted: Apr 8, 2012 12:59:52 AM

oh well...
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vulcan96
Champion Author Ohio

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Message Posted: Apr 8, 2012 12:59:08 AM

sure hope some speculators lost their shirts........
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billy44bo
Champion Author Mobile

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Message Posted: Apr 8, 2012 12:57:53 AM

To bad nobama does not want us to use the steeply discounted Canadian crude.

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Tigercat88
Champion Author North Carolina

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Message Posted: Apr 8, 2012 12:56:21 AM

Stocks go up and go down for sometimes no good reason.
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TRYWI
All-Star Author Appleton

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Message Posted: Apr 8, 2012 12:55:58 AM

okay
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trinda1
Champion Author Fort Worth

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Message Posted: Apr 8, 2012 12:55:07 AM

Smoggy was just an excuse anyway.
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GoGoGoodyear
Champion Author Los Angeles

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Message Posted: Apr 8, 2012 12:53:37 AM


It seems this oversupply problem is only affecting the price of Canadian crude. Here in the US we are still paying too much.
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bailey1OH
Veteran Author Cleveland

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Message Posted: Apr 8, 2012 12:47:38 AM

This is good.
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themaninthehat
Champion Author New Orleans

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Message Posted: Apr 8, 2012 12:47:13 AM

This part of so-called capitalism is simply not working.
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btex49
Champion Author Austin

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Message Posted: Apr 8, 2012 12:43:41 AM

Blah, Blah, Blah...
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SteelPenny
Champion Author Dallas

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Message Posted: Apr 8, 2012 12:43:14 AM

yes...?
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OWENALOTT
Champion Author Appleton

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Message Posted: Apr 8, 2012 12:41:44 AM

Interesting
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humblepie
Champion Author Toledo

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Message Posted: Apr 8, 2012 12:38:20 AM

chia will step in and buy it all up,
at bargain prices and pressure these
companies to export it all. much much
smarter then obama.
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GAS1251
Champion Author Texas

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Message Posted: Apr 8, 2012 12:36:36 AM

Shouldn't this cause the price of oil to plummet?
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TWS658
Champion Author Portland

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Message Posted: Apr 8, 2012 12:32:29 AM

Ok.
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DTrainCanada
Champion Author Saskatoon

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Message Posted: Apr 8, 2012 12:26:58 AM

It will come back ... hold on to your shares ...
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MN1
Champion Author Twin Cities

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Message Posted: Apr 8, 2012 12:23:11 AM

Greed is a double edged sword... no sympathy here.
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2bigtanks
All-Star Author Akron

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Message Posted: Apr 8, 2012 12:22:00 AM

Putting on hip waders right now!
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computernut2008
Champion Author Ohio

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Message Posted: Apr 8, 2012 12:18:57 AM

so
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Canucktree
Champion Author Alberta

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Message Posted: Apr 8, 2012 12:17:20 AM

Price of crude continues to climb?!
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frostyWV
Champion Author West Virginia

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Message Posted: Apr 8, 2012 12:14:55 AM

aw poor babies.
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cbuck80
Champion Author Massachusetts

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Message Posted: Apr 8, 2012 12:10:45 AM

ok
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KhelbenArunson
Champion Author Michigan

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Message Posted: Apr 8, 2012 12:09:52 AM

Perhaps it is looming prosecution and a lack of consumer confidence in Big Oil?
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Dragnet
Champion Author Arizona

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Message Posted: Apr 8, 2012 12:06:49 AM

Bump off the speculators and this wouldn't happen
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comprof
Champion Author Houston

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Message Posted: Apr 8, 2012 12:02:43 AM

The entire stock market is way over priced.
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JohnofGB
Champion Author Flint

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Message Posted: Apr 8, 2012 12:02:28 AM

Canadian oil sand crude cannot be easily transported , thus lower prices. The crude is transported by railroad car tankers.
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hubcapLA
Champion Author Louisiana

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Message Posted: Apr 8, 2012 12:01:45 AM

We'll take some
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gamalerin
Champion Author Tampa

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Message Posted: Apr 8, 2012 12:01:06 AM

very promising
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wally52
Champion Author Little Rock

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Message Posted: Apr 8, 2012 12:00:57 AM

More BS again
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kcboy
Champion Author Utah

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Message Posted: Apr 7, 2012 11:55:57 PM

ok
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Double_Golden
Champion Author San Francisco

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Joined:Aug 2011
Message Posted: Apr 7, 2012 11:55:22 PM

ok
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