RE:RE:To the rest of the BoardCB69, Yes you're right, I was never in management, I was in the technical, engineering, operations part of drilling oil&gas wells. I know very little about production, petrophysics, geology etc. I'm learning about that stuff now along with financial accounting.
These shale plays are very quick cycle, cash to cash. Cash in to drill and put a well online within one month to cash out selling the oil. That's why Exxon just paid $60 billion to buy Pioneer. They'll also see a big boost in fcf just like bte is enjoying because money isn't tied up in long cycle plays like deep water plays in Guyana where it takes years to see first oil after starting to drill.
It's instructive reading all of the comments regarding what bte should do with all of that income. I say drill baby drill. Spend operating income on capex to increase reserves. But this would leave little fcf. But some people don't want to see low fcf numbers. They want to see high fcf to pay down debt with, buy back shares etc. Everybody has their own idea of how best to deploy the income.
As for your comments regarding other posters, I don't see their comments so I don't see what they're saying. Anyway I'm up early this morning. Huge thunderstorm rolling across the north coast of South America. Thunder woke me up.