Davy Bui submits:
It’s been awhile since I’ve commented on Penn West Energy Trust (PWE) — these days, I save my stock specific analysis for Enlightened American Premium members — but I have blogged a bit about PWE in the past and so will share some brief comments.
The arrival of Murray Nunns has definitely invigorated Penn West on the operational side. F&D costs are down, reserves are being defined and exploration prospects are being put in clear focus, with three promising plays being primed for horizontal drilling. The company reduced debt by over $1B as well so Nunns has undoubtedly made positive changes at the company. PWE has also made a key strategic shift to more oily/liquids production in a very weak gas market, with 69% of proved reserves in the oil category.
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Investing, Long Term Investment, stock market | admin April 30, 2010 