RE:RE:RE:RE:RE:RE:RE:Crunched q2 numbers 4 h2 forcastI finally had time to look more at surge. Surge in a good comparison for OBE, both high debt turn around situations...well at least OBE has FCF in both Q1 and Q2.
But Surge had such a rough quarter. Do investors even care?...they should...rough quarters eventually lead to problems...
Surge sold 2700 BOE and at one time they said First half drilling program added 3400BOE...so 700 more.
Well Surge went down 1450 BOE Q2 to Q1.
Like I have long suspected, Surge decline rates are extemely high on sparky.
Minute spring break and cant drill in sparky, production must crash.
OBE production profile is so much more superior than Surge's.
OBE gained from Q1 into Q2 in production...Surge dropped.
6M capex 51 Obe vs 47M for Surge,
All Surge can talk about is 2022,,,Obe is delivering the goods way earlier in 2021.
Kramerkarma wrote:
on Twitter I used 2 calculations. One using wti -18 and the other using historic 60% of wti. Just rethinking seeing these messages I said costs could fall but never mentioned or added in rising royalties. So roughly 60M$ debt repayment after increased royalties H2