How will they pay off their debt?$2 billion in debt, the first chunk of which comes due in 2021.
They have no cash in the bank and are using their line of credit. Unless we get triple digit oil prices that STAY at triple digits for at least a few years, how is BTE going to even remotely pay off the debt or refinance it at favorable terms?
It makes no money at today's prices. All it's doing is drilling its tier 1 inventory in order to keep the lights on. Eventually, the tier 1 inventory will run out and then what?