After Yesterday’s OVV Financial Update: 1. Glad to get "free cash" neutrality goal, willingness to cut capex, and that bank credit not dependent on market cap ratios.
2. Yet...with the "net 3.5 billion" credit... it means that the total secured 4 billion credit minus the commercial paper liability leaves us at "already free cash neutral" the first of March 2020 before Saudi cuts and $30 dollar oil.
the hard cuts necessary need to be cut with survival conviction IMO.
3. So, when do we cancel dividend? sooner than later? The debt is the problem, and cash is king.
4. When might we ever begin to pay down debt? Even if 80% of debt is due after 2024, can we pay off 6 billion in debt from 2025 to 2030+?