Great ReportWapiti
5,100 boe/d lost at Wapiti due to downtime, so tack that on to next quarter. So to me their estimated for Q2 look pretty conservative for Wapiti, unless all the plant issues have not been resolved.
PayDays
It is pretty great the 25% dividend increase, they will hit the debt target next quarter especially with the prices of commodities. I agree with Raymond, likely a special Divvy next quarter...
Willesden Green
Essentially it looks to me like they took a 20,000 boe/day play and make it 40,000 boe day. So to spend 40 million on Land they are pretty serious about this play area. It also looks to me like there with be other tuck in acquisitions, POU has this area to them self.
Piggy Bank
It looks like the Piggy Bank, the 479 million in equities it is carrying on the balance sheet, is JR play money, and he sold a little NVA to buy those willesden green lands.
Next Quarter production will be flat with some Karr down time, and after they hit their debt target, they will unleased the flood gates of FCF in the shareholders direction, and Raymond will finally be able to get his wife a new car.
IMHO