14 dollars will not come soon enough
I really don't think the managment at ARC are capable of managing as asset like Kakwa.
Risk mitigation is spending 600 million on a high risk full cycle opportunity will letting a 1/2 cycle opportunity remain under capitialized.
Oh by the way it is the best play in the entire Montney, but is was not Terry's idea, just like this merger was not his idea.
ARC continue to spend on gassy projects and project with full cycle economic while condensate prices are over 80 dollars and the are thowing opportunity away.
Why do the deal the 7 dollars trade your shares at 1.108, take on another 1.8 billion in debt all when your share are trading at 7 dollars? It wasn't Terry's idea and now he wants to fund everything except Kakwa, his LOFTY OBJECTIVES for Kakwa is to reduce declines by 2%, in the highest commodity price enviroment in 3 years.
Someone remind him his is suppose to think about Max CF.
IMHO