WCP spreadsheet model I have created a spreadsheet model of WCP showing their financial data at $55 WTI. This was detailed in the last NR, if oil prices went lower for longer they would drop the budgetary assumptions from $65 to $55 and they gave us all those numbers. I have also used two stress tests in my model showing $50WTI and $45WTI avg.
At $45 WTI average the payout ratio would be 114%. Not bad considering during the good times CPG paid out 130% every year.
Sensitivity analysis shows WCP drops $4.7 million in cash flow for every $1 drop in crude, hence at $45 WTI they come up $51 million short, or 114% payout.
Here is the model for your viewing pleasure.
Large Feel free to join my website at www.tradinglarge.com where WCP is our number one pick, the website will be soon closing to new registrations until July.