GREY:CEQXF - Post by User
Post by
exprohibition18on Dec 14, 2017 11:31am
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Post# 27156352
BXE- another indebted NG player gets line 100% reaffirmed
BXE- another indebted NG player gets line 100% reaffirmedBellatrix - 75% NG- just came out with renewed line/facility intact today
Guess what- they are heavily indebted - much more so than CQE, and like darling Delphi- banks
get way way behind them on lines. In for a penny, in for a pound...
or , again, is this some kind of sco-ordinated squeeze to CQE?
Again they are essentially an ng company with similar blended metrics
they have :
250 MM US /325MM Cad in notes dues in 2 yrs
50MM Cad in converts
and are 8 MM drawn on todays reaffirmed 120MM line
that would be total existing debt of approx 400MM - up to 520 MM in debt on todays roughly 37K boe ( 3/4 ng!) , or roughly 10.8K on low side to 14K of debt burden per boe equivalent
...and CQE somehow with its "superior" CPP partner cant get access to 6700/ flowing boe in financing? even throwing in midstream + Edmonton condensate at nearly 80 bucks?
the differential treatment shows how the energy game is truly played!
talk about an invitation-only club....