RE:RE:WTI up $4.51 BTE down?
Mas , this is from Baytex's report Our improved financial position enabled us to implement the second phase of our enhanced shareholder return framework in May, allocating 25% of annual free cash flow to a share buyback program with 75% of free cash flow allocated to debt reduction.75% towards debt. not to capex & debt. They also said it was virtually the same debt remaining as last quarter ? This doesn't make sense . They expect the debt to be 1 billion at years end . How much debt did they eliminate this quarter is the question . They also mentioned that $400 plus Million of debt has been paid since the beginning of the year but are bypassing the 3rd quarter numbers , why? Poor hedging returns have handcuffed this stock , no debit reduction , no dividends & the buybacks are not helping the SP. I'm not expecting this to be over $10 but it should be in the high 7's to the mid $8 range . By holding the stock down only benifits their buying price , not the shareholders . My question is where did the 75% of FCF go if not to debt.