Market clueless what $29 WCS-WTI spreads mean to HFC | BRY Message Board Posts

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Msg  105273 of 224794  at  12/5/2012 12:01:24 PM  by

bigenergybull


Market clueless what $29 WCS-WTI spreads mean to HFC

Yes, HFC benefits greatly from the incredible WTS-Cushing WTI spread, but they also bring in a lot of WCS from Canada, trading at $29 below WTI.
In Q3 (in which Holly earned $2.90), both spreads were a lot lower than today.  3-2-1 cracks were higher, but not by as much as spreads are higher now.  Holly is going to print EPS with a $2 handle for Q4, with a shot at $9 EPS for 2012.  Then they will print near $2 for Q1, where analyst expections are for $1.30. 
 
WTS-WTI will compress from these levels over time, as will WCS-WTI, but will remain higher for longer than anyone expects. 
 
That Brent-WTI spread's bit a bit more stubborn than most expected, for example. 


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Msg # Subject Author Recs Date Posted
105293 Re: Market clueless what $29 WCS-WTI spreads mean to HFC upthebayou 7 12/5/2012 3:37:34 PM


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