PMT is extending the debt instruments in 2020why are they doing this???
well if their debt has a later maturity then they have more room to breath to the increase production with thier capital program or they might be looking to acquire a junior company that needs better management and a stronger balance sheet.
well we know they are spending 60 plus million to increase oil and NG production in 2017 but maybe just maybe with thier low share count they might be looking at some distressed assets and or companies.
one such company that comes to mind is Cequence energy with their high quality assets but large debt and low CF, they have been treading water all 2016 and just recent issued some flow throws in order to drill a coupel of montney wells.
maybe PMT is looking to grow again and buying distressed companies is a great way to get grow and with only 53 million shares out, PMT has room to expand.
just speculating here DYODD