This is what I have in my head as something that would be good to see....a good balance of debt, buyback and dividend for 2022.


If they adopt the 50/50 rule (50% shareholder returns as others are) 

Note this is using an assumption of < $70 oil.....

Higher oil you can buyback more or increase dividend or reduce detb further...I like a balanced approach...this will eliminate 6% of the float allow a $0.20/year dividend and get debt at the lowest point in their target

ALL with Oil BELOW $70

I BELIEVE THE MANAGEMENT TEAM HAS HIDDEN THE INFO FOR 2022 SHAREHOLDER RETURNS IN CURRENT DOCUMENT ALREADY BUT YOU MAY NEED A FINANCIAL UNDERSTAND TO UNCOVER IT :-)


Month % Month Share Cancelled SP$ FCF Buyback
Amount		 Dividend/Sh/Qtr FCF Dividend
Amount		 Combined FCF Usage FCF for Debt Debt Balance
Jan 0.75% 4,245,000 $ 4.50 $ 19,102,500     $ 19,102,500 $ 20,833,000 $ 1,229,167,000
Feb 0.75% 4,245,000 $ 4.90 $ 20,800,500     $ 20,800,500 $ 20,833,000 $ 1,208,334,000
Mar 0.75% 4,245,000 $ 5.30 $ 22,498,500     $ 22,498,500 $ 20,833,000 $ 1,187,501,000
Apr 0.75% 4,245,000 $ 5.70 $ 24,196,500     $ 24,196,500 $ 20,833,000 $ 1,166,668,000
May 0.75% 4,245,000 $ 6.10 $ 25,894,500     $ 25,894,500 $ 20,833,000 $ 1,145,835,000
Jun 0.75% 4,245,000 $ 6.50 $ 27,592,500     $ 27,592,500 $ 20,833,000 $ 1,125,002,000
Jul 0.25% 1,415,000 $ 6.85 $ 9,692,750 $ 0.05 27,400,000 $ 37,092,750 $ 20,833,000 $ 1,104,169,000
Aug 0.25% 1,415,000 $ 7.20 $ 10,188,000     $ 10,188,000 $ 20,833,000 $ 1,083,336,000
Sep 0.25% 1,415,000 $ 7.50 $ 10,612,500     $ 10,612,500 $ 20,833,000 $ 1,062,503,000
Oct 0.25% 1,415,000 $ 7.80 $ 11,037,000 $ 0.05 27,400,000 $ 38,437,000 $ 20,833,000 $ 1,041,670,000
Nov 0.25% 1,415,000 $ 8.15 $ 11,532,250     $ 11,532,250 $ 20,833,000 $ 1,020,837,000
Dec 0.25% 1,415,000 $ 8.50 $ 12,027,500     $ 12,027,500 $ 20,833,000 $ 1,000,004,000
Year 6.00% 33,960,000   $ 205,175,000   54,800,000 $ 259,975,000 $ 259,975,000  
                   
              $ 519,950,000 Total 2022 FCF