RE:RE:Latest pr out. FinancialsBy far one of the better run firms out there. Their press release from last night just confirmed why this firm will survive and thrive when prices rebound.
Remember, their debt climbed simply because of their significant (and significantly accretive) acquisitions in early 2014.
They have nothing to do with the likes of LTS, PWE, etc. who ran into high debt because of persistent underperformance at the operational level.
SGY have among the best land in Canada. Even at these prices, many of their pools are highly profitable.
I expect a larger peer (Crescent?) to become very interested if the discount to NAV continues well into 2015.
I am buying. Not in anticipation of a takeover but in anticipation of owning one of the "best in class" firm when prices finally start to recover.