RE:CPG & Shell I agree with you.
In my opinion this purchase goes against the company stated objective of sound fiscal guidance.
This purchase seems like a Hail Mary move. Bryscuit will look like Einstein if oil goes to $75 and Homer if it goes to $45. Both are totally possible.
In addition to taking on another $700 million in debt they are also washing out shareholder value by adding 10 % (50,000,000 shares) to the float. This in my opinion will make it more difficult to bump the dividend.
Strangely, all the talking heads seem to be giving the thumbs up and are suggesting higher prices for CPG.
I guess time will tell.
glta
filefish wrote: Saw the same playbook written at Athabasca - Equinor. Didnt work out so well there. Despite the apparently nice metics of this transaction for CPG at $50WTI , I am disappointed that they have put themselves back into a scary debt condition. They have changed their deleveraging policy and are gambling again on Poo . Saxberg all over again.