IPO.v/IPOOF =.05 to C$1.81
sold out of InPlay Oil today. I have been reading articles lamenting the lack of pipeline capacity for both oil and gas out of canada. Since the Canadians were so trusting and ONLY export to the US, there is no alternative. Oil prices received by producers are as much as C$20+ lower than WTI and in September, natural gas went below zero. Producers had to pay their customers to take the gas off their hands OR shut in their oil and gas wells. It since gone up to the C$1.50 to C$2 range but storage is high and the US doesn't particularly need the ngas. Parts of northern US states do import Canadian gas so exports to the US will continue but any increased production is going to have trouble getting decent prices.
IPO produces light sweet oil, which isn't impacted as badly as heavy oil but the capacity is the same and Canadian environmentalists are making it very difficult for pipeline approvals. The earliest relief is likely 2020.
The smartest thing they could do is build pipelines to the West or East Coast and export the oil to willing buyers in Asia or Europe but that looks unlikely.
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