Very different world from march 2019 Pou net debt was $1b then and really only $200m now. No fcf then but $500m in 2022.
OPEC+ played second fiddle to shale. Remember all that swing producer bull? OPEC+ in control now and will not permit a crash in prices. In fact, how many USA shale companies were even tempted to produce more before Friday ... they will tread cautiously now. OPEC+ will not allow oil prices to drop further
When COVID hit in March 2019, it was the end of the world as we knew it. Nobody was ever going to use fossil fuels again. Horse and buggy was all we were going to need. Look how far we have come. Vaccines came out. Anti-virals were rolled out etc. So now the South African variant was quickly reported. Kudos. Reading potentially more contagious than Delta but not as dangerous and vaccines and boosters should provide protection. If all else fails, Merck and Pfizer can tweak the vaccine and roll it out within 100 days.
I won't go through all the permutations but you know what I'm doing .. was buying at $21.40 Friday. Sells off more buying more. We are a $30+ stock even in this market.