Off day math Wti q1 ($95) - wti q2 (108.5) = 13.50$ difference
$13.5 x 21000 bpd x 30 days = $8.5 million/ month increase earnings from last quarter.
160 million shares @ 5c dividend = $8 million/ per month.
So last quarter our dividends would have been basically covered just by the increased wti pricing alone ! Amazing!
Now bring in the fcf from last quarter and send 50% of that to "shareholder returns" as per the new arrangement.
Wow !
Is this even legal to make this much for your shareholders ?
Mind boggling !