RE:What a disgraceInsiders were buyiing Granite the last few months, little to no buying here for some time. Clearly pipeline and infrastructure issues exist.
Look Q2 was good but guidance is bad, cut more capx, cut production guidance.
Ante creek could be declining.
They way I read it ballpark RMP is looking at $44 oil to maintain production within cash flow.
As mentioned the survivors will flourish when the time comes, but the fact is barring some real change to rmp assets Oil sub $40 will cripple RMP if it stays there long enough. This is the fear in the market right now $30 dollar oil for a few months.
Now is the time for management to step up and buy if they they think they can make it in the long run, why wouldn't they at today's price. Cheers Matthew