updateI thought the update was good, obviously for current circumstance. I don't mind them keeping half the dividend for now. If they have to cut again in a month or two I would be ok with that too. It is good to know they have more flexibility to go.
I except WTI and Brent to both at least $20 maybe a little under $18/$19. I would expect oil to stay depressed at around $20 for 2 or 3 months.
The question to ask yourself is weather or not the financial system can handle the shock it is getting now. If you think the Fed, Treasury, and legislative in the U.S. can get a handle on the financial plumbing over the next few months then Depression may be off the table.
If depression hits, three quarters of the oil field in Canada will be bankrupt, 50 million in dividends over the rest of 2020 is not going to matter. the company survives if oil prices improve 2021, and no depression. In that case you will see multi baggers across the entire sector.
That call is about the same for many now. Big caps too, or what used to be large caps CNQ, HSE, CVE etc.