RE:Piper..Personally I was hoping for both
when TTF goes un-hedged staring in 2022, VET WILL BE NEARLY UNHEDGD.
math..:
$48 cash cost and selling price ~ $75, gives a cash margin of $27 boe
$85 k boe \d production is 31,025,000 boe/year
If prices STAY where they are, that’s $837,675,000 FFO.
From 2021 budget, VET is targeting $300 mm CAPEX.
that leaves $537,675,000 for shareholders
If they paid it all as divs, that’s $3.37 per share. But I agree, company is deleveraging, so maybe $1 each after target is reached. Almost NO priced unto m...