Some inaccuracies on your i3e piece - 2 new wells are already on production before year end. Also only about 10% of i3e's production is heavy oil subject to the WCS differential - the balance of production is light oil. Also could you clarify what "shake up" you were expecting?
The tie-in of the 2 wells was planned in Q4, but then they have to clean-up before the actual production starts, that's why I thought initial production is expected more in early Q1 than late Q4. I think they even said they expect them to contribute in early 2024, but I may have made a mistake in my notes.
You are right about the MWS, but the trend compared to WTI is similar to the WCS, which is known by more people. The price differential is lower vs. WCS.
The shake-up was described in the write-up, basically it should focus on either CA or UK and prioritise development over paying a dividend. It was currently unsustainable and it had to be reduced in 2023, there could be more dividend cuts in 2024.
Some inaccuracies on your i3e piece - 2 new wells are already on production before year end. Also only about 10% of i3e's production is heavy oil subject to the WCS differential - the balance of production is light oil. Also could you clarify what "shake up" you were expecting?
The tie-in of the 2 wells was planned in Q4, but then they have to clean-up before the actual production starts, that's why I thought initial production is expected more in early Q1 than late Q4. I think they even said they expect them to contribute in early 2024, but I may have made a mistake in my notes.
You are right about the MWS, but the trend compared to WTI is similar to the WCS, which is known by more people. The price differential is lower vs. WCS.
The shake-up was described in the write-up, basically it should focus on either CA or UK and prioritise development over paying a dividend. It was currently unsustainable and it had to be reduced in 2023, there could be more dividend cuts in 2024.