RE:MHP lives in Canada ( 60+ oil on average end of 2023)I agree with you that the (macro) tune has changed, and so should the (micro) dance - leverage is a powerful tool in a bullish environment, but a company should stick to the moves it's known for and comfortable with - stability and security are an investors best friend.
I have full confidence in management, and know they can see the horizon better than I can.
Baytex is a big leverage play, as is Vermilion, and those may flip, or flop - but Arc will dance on.
Pick your partners appropriately - expectations are the best indication of satisfaction.
IMO and GLTA