Crew Debt Level
We know the Dec. 31, 2020 debt is: $357.2 M
2021 expected capex: $120-145M
2021 expected AFF : $85-105M
2022 expected capex: $70-95M
2022 expected AFF: $120-150M
AFF for 2021 is likely to be in the higher end of their range due to stronger pricing for condensate and good Q1. Drilling cost was lower than expected.
Estimated Dec. 2021 debt level: $357.2 - $100M (AFF?) + $125 M (capex?) = $382.2 M (approx).
Estimated Dec. 2022 debt level: $382.2M - $135M + $82M = $329.2 M (appox).
I was hoping to be below $300 M by the end of next year.
They still have the option on the infra deal for $37.5M.