RE:RE:RE:RE:RE:RBC Greg Pardy SEES MEG OUTPRICING CVE In 2024
- RBC Greg Pardy "SEES" ADJUSTED FUNDS FLOW (AFF) of C$ 470 million in Q3/2023
- FREE CASH FLOW (FCF ) of C$ 372 million with a CAPEX of C$ 98 million
- ONLY C$ 58 million in SHARE BUYBACKS
* this MEANS that the DEBT REDUCTION in Q3/2023 will be:
372- 58 = 314
- SO a HUGE C$ 314 MILLION in DEBT REPAYMENT and CANCELLATION assuming ZERO CHANGE in WORKING CAPITAL {which is NOT the case since prices rose in Q3/2023 and it PULLED OUT the CASH to FINANCE HIGHER SALES in HIGHER INVOICES of ACCOUNTS RECEIVABLES}
- so MEG is PLAYING IT SAFE as $ 58/$ 314 million is NOT 50/50% BREAKDOWN according to RBC Greg Pardy
- RBC GP is FORCASTING a 102,000 bbls/d BOP in Q3/2023
z173