RE:$3 billion debt ,mostly high interest credit facility Its not like they were trying to repeat the nightmare, its that oil company management always seem to get illusions of grandeur during the good times and have very short memories of the bad times. We shareholders remember when CPG was .62/sh and burried in debt. They had their chance to completely deleverage the company but instead went in the opposite direction. We all know that the oil market can quickly turn lower and bite you in the a** . Its hindsight now, but in planning to do the $1.7bil acquisition, all of that production should have been hedged to insure the new assets were accretive.