RE:Big climb backThe Great Cheadle, it is clear Crew does not want to sell anything. If they wanted to, I am sure there was an opportunity or two. Let's stop hoping.
Cheadle12 wrote: Now $1.61.
As i mentioned, Q2 was a total dissappointment. FFO was low & debt has been at the $375M for too long, always always always focus on the balance sheet. Now with delta hysteria and Oil dipping, High debt Crew is getting hit the hardest.
Good value here? I think so. But I would prefer to see Crew's assets migrate into a better mgmt. team for development. I've always said that I believe they're too inactive in the M&A, A&D front and growing production to drive down debt ratios is only one part of a strategy. You must reduce 'absolute debt'. If Oil trends down to $50, how do the ratios look then? What if Delta is much bigger, or if global economies don't pick up as expected?
NuVista made the right move with their asset sale, but Crew as usual have been sleepers. The street expected to see some Asset sales and were dissappointed.
Sell Lloyd. Take $20-40M.
Sell Tower.
Sell Attachie.
Sell Oak/Flatrock.