GREY:BXEFF - Post by User
Comment by
RichyRich$on Oct 12, 2019 2:31am
187 Views
Post# 30224899
RE:RE:MAYBE BIG NEWS ON SATURDAY
RE:RE:MAYBE BIG NEWS ON SATURDAYIts unlikely for a buyout to be announced on weekend. What has be curious is the fact majority of the debt is extended to 2023 and no indication of not being able to service it. If you listen to the Q2 conference call, Schachter called, and asked them... if NG remained low the remainder of the year... would they consider not using their excess cash flow for drilling more wells and instead using it to pay down debt more. They said for sure. No indication of not being able to service the longterm debt due 2023. This could be for the revolving debt... which is $100M. But even that... they usually just renew it annually. So it's making me think this a proactive halt to get bidders bidding for a buyout offer. The majority of the debt is due 2023 and sufficient operating cash flow. There has to be a decent offer in the works.