RE:RE:RE:Meanwhile, back on the farmSure, they can pay down debt too but that is nowhere as critical as last year. It was a stroke of genius/luck when they refinanced their bonds in early 2020. Now it's more about show me the money! Institutions aren't buying energy companies other than a few are buying a few large caps like cnq and SU. If bte had 500 million less debt today, there would be no more institutional or generalist buyers than there are now. Eric is absolutely right, those guys are nowhere to be seen. YET! For any small cap names. Large cap = TSE60. When they start buying first cut is market cap and baytex is still a small cap. It sounds stupid, but they won't buy it until it's doubled again. At $60 oil baytex is comfortably generating free cash flow. At $70 it's a beast and nobody will care about the debt as it disappears. Day trade and flip at your own peril.
Antonyius wrote: Pretty much this, they really need to cut that debt level down because that's institutional investors' biggest knock against them. A dividend is probably one of the most short-sighted things they can do right now.
Marty57 wrote: Much as I like your optimism, I think they will be paying down debt with every spare dollar for a year or two. Their hedging program didn't do them any favours this year either. BUT... it is obvious that things are looking up for Baytex.