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Re: groningen gas fieldThanks samui. Well, once again I thank my lucky stars I talked myself into diversifying into some less "exciting" (boy, could I have used less excitement in E&Ps over the last 10 years) companies over the last 2-3 years. One of those was Vermilion, one of the top value builders in the "Canadian" oil patch. One of their consistent base/double hits for the last 5+ years has been oil-linked Dutch NG produced (they're the #2 onshore NG producer in Holland) from the area well away from Groningen. This 4th or 5th mandated reduction in Groningen field production won't hurt their netbacks whatsoever (I guess 50+ TCF taken out of a fairly compact area over 45 years acts like taking the air out of a painted balloon, just try to avoid making cracks). Take a look, anyone, if you're seeking a modest income producer that has never cut their dividend and consistently grows their production, reserves and share value. http://www.vermilionenergy.com/files/Presentations/VEI_Investor_Presentation_June_10_2015_web.pdf If you're determined to retain some European E&P exposure after the eventual SLG takeout, I advise you at least consider it as a place to park your SLG funds. Regards, Naamkat |
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