RE:RE:RE:CR's high leverage exceeds 3 times VS Other Nat Gas Names I used to hold Spartan (the original) and know the mgmt team well.
The assets are garbage, BXE couldn't turn a profit on them hence why they went BK.. same with Delphi.. total junk assets.. They couldn't even make the interest payments on the debt, so the assets were more aptly known as liabilitiies.
Crew is a much different animal, excellent assets and they can service the debt, divest of non core & they can grow production, and they are. Check what their D/CF ratio will be by exit 2022, even hedged.
SDE is nothing more than Pine Cliff Energy 2.0, collect up a bunch of junk assets and try to exit with a profit. Recall how much Spartan sold for to VET.. shareholders were taken to the woodshed, so I wouldn't be bragging about that one.. was practically a Take-under.
Keep pumping your SDE name on this forum, but this is for Crew shareholders.. your content is considered spam.
stockfy wrote: The Great Cheadle12. I have been bagholding garbage names in 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