RE:Bte - dividendsBefore we see dividend reinstatements anywhere in the oilpatch we are going to see development capital replaced first. Look at the replacement ratio's for 2015 and many oilco's are at 50 % where their long term average must ge over 100% to stay even and higher to grow.
We we may see a 1 or 2 penny a month dividend in 2017 if WTI hits 60 or 70. After this near death experience everyone is going to be very conservative about giving cash back and it will be dictated to them by their lenders who want their positions secure first.