RE: "Proceeds from the notes will be used to repay a portion"You guys got a pretty active night!
Can we agree Notes are part of the Long Term Liabilities family and Notes with a maturity under a year are in the Current Liabilities?
As far as Debt being reimbursed - $15m looks pretty low for Q1 - but they have injected $65m in their Working Capital during the Quarter. It is expected the situation will revert lightly in Q2 (around $0).
As a long term investor, I would be worried if Peyto would start buying back shares at current level. I would rather see them reimburse the debt they have raised while production was increasing. Now that production is decreasing, they should repay that debt.
Yash, you might want to revisit the debt covenants. I don't see any related to market value of the shareholders. Accountants, banks and creditors prefer to use book values.
Have a nice day!