earningsI had expected more debt reduction. $100m in six months, but I thought we were good for $1m per day.
Aside from that, it didn't look like a report that deserved a 6.5% haircut. Other peers dropped by 1.9% to 3.5% so the report apparently spooked some investors. VET remains in solid financial shape well within its covenants for short or long term debt.
it was bad luck to report on day a that oil dropped significantly, and VET responds to good or bad news with twice the kick of almost any other O&G play.
Unless oil drops overnight, it should bounce higher tomorrow once the margin calls are satisfied.