RE:RE:CR's high leverage exceeds 3 times VS Other Nat Gas Names Look Cheadle12 alias. I have been dealing with the energy sector more than 25 years. And you were not even born when I bought my first shares in an energy company. Therefore, keep your factual
LOL dd for yourself. You can't educate me. You should be thankful instead because you were not aware of SDE and its pristine balance sheet with ZERO debt. However, you are free to keep holding Crew (CR)
with the 3.5 - 4 times leverage. fyi, I will only tell you that SDE's assets are assets from CQE, BXE, DEE and other companies. They were bought for
pennies when they filed for bankruptcy
because of their high leverage at 3 - 4 times, same like CR.
So instead of educating me, do your dd on DEE, BXE, CQE to find the reasons of their bankruptcy. BXE, DEE and CQE loaded a ton of debt during the good times and were unable to pay it down after 2017.
So it's the extremely high debt that killed them. I will also tell you this about SDE's wells:
"Spartan's winter drilling program of six Spirit River locations is progressing ahead of schedule and budget. The first two well pad was drilled, completed and on production as of mid-December, 2020 and a three well pad is in the final stages of drilling. Wells drilled to date are consistent with expectations with payout forecasted to be less than twelve months and yielding greater than 100% internal rate of return on current strip commodity pricing. Spartan expects to accelerate into the first quarter the drilling of two wells previously scheduled for the fall of 2021, including a two-mile well into the Cardium formation. "
Facts:
https://www.newswire.ca/news-releases/spartan-delta-corp-provides-operational-and-corporate-update-and-revises-2021-guidance-818510873.html