RE:RE:Level of debtYour numbers do sound right. However, their operations are different, see the drilling for water division for Foraco. Their geographical mix is differetn too. This being said, Foraco could produce very interesting results for investors as they delever and we hit an upcycle with improved capacity utilisation and improved day rates.
Investing on the most levered player can produce the best results, if of course, they do not go bankrupt (Energold anyone )
I really like the fact that the co ceos own 40% of the company. The risk of a massive dilution is minimized.
Amazing what these guys could throw out in terms of free cash flows should the market heat up a bit more. They were valued at close to $ 5/share at the top of last cycle.
GLTA
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