GREY:LSTMF - Post by User
Comment by
bushhog1on Mar 16, 2016 11:51pm
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Post# 24668096
RE:RE:RE:Debt Problems
RE:RE:RE:Debt ProblemsAgreed that LTS do have room to cut without forcing a liquidity issue.
However with oil going up they wouldn't have to cut.
Also the CFO said they have options if they get cut
1)"Under our debt indentures, we have the ability to issue up to $750 million of first lien debt and we look at that as one of the options potentially available to us to reduce any liquidity risk we might face the result of the reduction to the borrowing base."
2)"but I would like to reiterate that we are pursuing strategies to improve our long-term capital structure and liquidity which includes, but not limit to asset sales at the appropriate value."
CEO also said
" we would estimate WTI needs to be in the range of somewhere between $40 and $50 per barrel in order for us to initiate and operate the drilling program.
After hours oil was over $39.00