RE:RE:Traders cheer as the casino opens againWithout question, this is a good WTI price for BTE. They are reducing debt and buying back shares with positive FCF, something they were not able to do for many years before 2021. They have remarkable growth in one of the hottest plays in North America at the Clearwater.
This is a great story in CAD O&G - one of the most compelling companies to choose from.
But I guess it's a matter of expectations. If retail is thinking that BTE has some big surprises at earnings with debt paid off below $900 million and production above 90,000 BOE, they are going to be disappointed. BTE is steadily paying down debt and growing production. But it takes time when a company had as much debt as BTE had. It's boring as hell pay down debt, but with each month that goes by, the company gets more and more valuable while the market price gyrates with speculation about one thing or another.
A long term view is necessary. It was foolish to think that "oil is dead" as Eliizabeth May said at the Canadian election debate in 2020. It was foolish to ignore energy when stocks dropped to absurdly low levels in April, 2020 as if energy would never be a thing again. Just like it is foolish to think today that oil prices are going to be lower in the coming years.
There is a structural deficiency in oil investment that cannot meet the growing demand. Everything is lining up great for BTE in the next two years.
Look beyond the day to day/week to week and even the month to month.
Patience my friends!
David01montreal wrote: Riski, you know the house always wins.
In 3 days bte has to report, some posters here say bte is making tons of money , fcf for buybacks, dividends Capex where is everyone, the pumpers, if the balance sheet is strong and debt was paid down faster, nobody would sell. I invite all who think differently to comment.