RE:Net debtThe answer to that is actually quite simple. They front load drilling capital expenditures in the 1st quarter of the year and reap the benefits for the remainder of the year. A new 12 well pad in Pipestone north. A total of 22 new wells in the quarter.
If you were around this time last year, they had already spent a lot of capital, and when prices crashed they did not need to spend any more capital and let the wells flow.
As each quarter goes by they will reduce debt by a significant amount as less drilling will be required.
Lifeisprecious wrote: Net debt was only reduced by over 40 million. I am not sure what they did with the 94 million asset sale. I will was expecting more debt reduction. Otherwise it is a decent report. If oil and gas prices continue to increase or stay at these levels, NVA will be in a very good spot in a year.