RE:ARX - Management Needs to be ChangedThey actually increased capex in Kakwa to $1.1B with production increaseing by 20,000BOE per day and saw a decrease in condensale YOY. Apparently the decrease in condensate production should be teaching you something about "some of the best acerage". Maybe your hunch is, wait for it, WRONG. "
So what does are management do"....it's our management. I could show another four doofus type errors by it is par for the course. MyHoneyPot wrote:
Clearly VII generations had some of the best acerage in the Montney, and likely over 2 billion dollars in infastructure.
So what does are management do, they keep the production flat at low level when compared to the production capacity of the infastructure and the resource in place.
Instead they 100 million dollars on bone dry gas at sunrise, i wonder if there is any return on that investment given the poor gas market.
Or the spend millions of dollars on electrification, i am sure that really jacked up the shareholder returns but you would not know that from the dividend they pay.
Or now attachie, they has been a boat anchor for shareholders for a long time, with type curves but no well specification or costs. I frankly don't believe a word this management team says.
Some prize montney lands exist in Kakwa that have not been exploited yet, but ARX management would rather spend shareholder capital on full cycle low return plays like sunrise, and a mountain of money on attachie.
In between they are comfortable sitting on they hands and squandering shareholder capital on buybacks, and doing everything in the power not to pay the shareholder.
That is ARX management in a nutshell. Avoiding 1/2 returns to squanders shareholder capita.
IMHO