RE:From March 10 NR......I understand the mechanics of buying back shares: improve equity values by lowering the denominator of all metrics, but don't get the end game: do you have one share left worth $1B? After selling 80m shares at $0.85 I think it'll be a while before they're buying them back at $1.70.
As stated, they have a finite amount of money they can spend on their acreage, limited by number of locations, amount of processing capacity and takeaway, cost of rigs and completions. It's also unclear how productive a huge chunk of their asset is, and it's not baked into the NAV at all.
But we're all dreaming until debt actually starts coming down at the end of this year through FCF and not equity sales. We're so close, and it's going to be interesting no matter what happens. I'd say the odds are in our favor but it's not a sure thing.