Post by
sportstermathew on Feb 24, 2023 7:37am
I like what PRQ is doing
I just re-read most of the third quarter report, and the Jan monthly newsletter and I have to say PRQ is not doing too badly.
Debt is going down, production is improving as is liquids production which maintains key profitability numbers as NG prices have weakened dramatically. Debt could be under $30 million this year. I would rather see debt go down than dividends paid out at least for now.
If Petrus ends up having low costs like Peyto then few can keep up at low prices.
The trouble is how do they improve NG plant capacity.
Answer: They have a 60mmcf/d processing plant capacity
Payouts on wells are less than one year based on $75/bbl oil price CDN$ less if higher prices.
I plan on increasing my position for the long term even though underwater at present.