RE:RE:PPR: 2019 guidance is based on low WTI, WCS, AECO pricesCardboard1 wrote:
The end of the Wheatland commitment was about the only positive in that report.
Netbacks of $2.30/boe... I can't find any light/medium oil producer doing as bad in Q4. So operationally they are doing terrible: not cutting cost agressively, not trying to find better price points.
I agree that they will do better at current pricing but, someone needs to ask for change from this executive bunch. Goldman must be asleep at the wheel. It is unreal that they are not demanding change and it is not like these executives would have much choice as there are no jobs of that type available right now.
There has been enough acquisitions/dispositions, share issues to confuse everyone but, we recall as investors being told that we should produce close to 8,000 boe/d after Marquee and now we are in the low 6,000. Decline rate of 22%? Yeah right!
Costs are outrageous: opex, G&A and what about interest cost? 15%/year to make these great acquisitions. How stupid is that?
So if the NAFTA thing ever brings substantial cash, I don't want these guys to oversee what to do with it. Their default will be to blow it on grand capex plans and G&A bonuses!
If they don't buy back shares (with actual cash) at this price...