Projections 70-75 oil
I took Baytex July presentation 5yr bar graph for fcf vs dept reduction and extrapolated these numbers: 65oil fcf debt ratio 2021 331M 2.1x 2022 379M 1.3x 2023 418M 0.8x 2024 460M 0.3x 2024 478M 0.0x 70oil fcf debt ratio 2021 357M 1.8x 2022 470M 0.9x 2023 538M 0.3x 2024 583M 0.0x 2025 602M 0.0x 75oil fcf Dept ratio 2021 403M 1.6x 2022 560M 0.5x 2023 657M 0.0x 2024 705M 0.0x 2025 726M 0.0x We are on track to average $70-75 oil this year if we see $80 oil soon. Even at $70 oil the dept gets knocked down quick. I hope they aim for more than 1.5x as I can't imagine how much they pay in interest, also banks don't want to lend to oil companies so the less dept the more fcf and less control by the lenders. Yes it may not be 100% accurate but the fcf projected lines sure match up through $55-$65 oil. I just wish I could post a PDF or an image. Ps, I was even until oil dropped today. Waiting to see what the draw downs are this week, something seems fissshy. Cheers,