RE:RE:Esi is at the lowestmjh9413 wrote: "In addition, from the period beginning 2023 to the end of 2025, the Company reaffirms its targeted debt reduction of approximately $600.0 million."
That is from the 1st qtr results NR but doesn't seem to jibe with comments in same NR's preceding paragraphs about reductions in Credit facility levels and Term Loan repayment schedule. Plus they are putting more rigs into reserve fleet and all areas except International have declining revenues.
I came to this BB after being on Akita BB, where there was comment about Fairfax. Prem Watsa does not get it right all the time and what is a sale price of ESI with its current balance sheet (there would have to be a lot of goodwill included to meet current share price even)? Comments anyone?
I'm sure both the credit facility reduction and debt reduction can be done at that same time. As the debt declines, doesn't the need for the credit facility?
As for declining revenues in all areas of operation except international , I 'm not so sure a 1% decline in revenue in Canada ( 48 drilling days) really counts as a decline? Road bans.
The reserve fleet additions strike as possible an accounting manoeuvre before writing them down?
As for Prem Watsa , I have a prejudice against him involving a previous investment which he bought ultra cheap IMO ,which might prove the point other people are trying to make