We need to grow production ... Listen to Rafi !!!
https://www.bnnbloomberg.ca/commodities/video/pembina-kkr-deal-is-good-smart-business-canoe-financial-s-tahmazian~2393007#/.Yh9RFlTORyE.twitter
This is what Baytex is doing right now !
At a lower cost ! Better margin !
Without refinancing or dilution of O/S !
The majority of small mid cap producers can't do that !!
Can't build more FCF faster like Baytex !!!
More numbers coming !!!
I suspect drilling wells are much higher cost (15-20%) for small cap producers (40,000 boe/d or less) !!!
Remember drillings wells is not 100% efficiency too !!! They don't hit the jakepot all the time !!!