Post by
auburn2 on Dec 01, 2020 9:56am
PHX now close to the year high with a $100 million mc
PHX is a good gauge for US directional driling activity. Last time WTI was at these levels prior to this year, CET was comfortably a 70-cent stock.
Comment by
auburn2 on Dec 01, 2020 10:29am
The difference between CET and most other trashed stocks in this sector is that CET has next to no gross debt, and of course no net debt. The facility still is there to draw from as appropriate, but the lack of debt and strong balance sheet here really is refreshing compared to most other sector names.