GREY:TBTEF - Post by User
Post by
qwqwon Dec 13, 2015 7:45pm
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Post# 24381576
Northern Blizzard to the rescue
Northern Blizzard to the rescueNorthern Blizzard is one of the few producers still paying a hefty Div of 14% ???????
The main reason for doing that is to support the share price for acquisitions.
They produce 20,000 bopd of heavy and have good hedges for 2016,
but not much CF with the high div ($53 mil./yr).
Their debt is $380 mil (unsecured, matures in 2022),leaving them ample room
to assume Twin's debt.They're trading for $38,000 per flowing so taking over
Twin would lower it to $31,000.A merger would be a good fit for both.