>>Futures prices are within a dime of $3 all the way to December. And May '22 is at 2.52.
AECO futures mimic the same pessimism about pricing in months 12+ and they haven't moved. I think supply will continue to surprise to the upside, even with increased LNG and Mexican exports. This is why I'm [very] long the well placed Canadian G&Ps and Canadian E&Ps that have proved they can survive with sub C$2 AECO, either through low costs, owned infrastructure, or high C5+ liquids content. Probably always a trade in there, but I'm happier to hold a survivor.