RE:RE:Updated presentationGenerating $100 million annualized EBITDA at these spreads?
I'd wager slightly higher due to the improved processing volumes. Q3 2020 was up to 11.8 Mbbl/d of crude, compared to 11.1 Mbbl/d in Q1 with gasoline + diesel production at 87%.
I'm cautioned by two things:
1. The last I felt good about PGR was excactly 11 months ago in similar situations
2. firstworld's sage and coke fueled warnings that this company is run by high school dropouts that barely achieved their CDL accredation in a province funded by dog farming and shipbreaking, in addition to the money stolen from ma & pa.
The rise in the crude price and future strip may erase some of the hedging losses, maybe a good DCF print in Q1?