RE:RE:RE:Dec. 31, 2021 DebtWould like to buy more CR anytime $2.50 to $3 range, many are going to be complaining about missing out at some point.
I would like to see a gradual reduction in debt no matter what level. $375 to $380 million may be doable.
Drilling definitely helps out in many areas as returns are so much faster at these prices so if it makes sense to drill, then drill. They are a small company and the totals will have little impact on the overall market.
The more CR drills, it has to reduce costs per boe however you want to look at it.
At some point in growth you need more pipe, more plants if you want to have a low cost ratio.
So what will it be other than just paying off debt only? is a 20% growth in production enough for investors? That should be easily doable. Can that growth in production pay down debt faster?
Maybe management can answer these questions.
New ERH's are a game changer, faster drilling, increased production, longer higher levels over time, and a smaller footprint in the game.
If companies are required to clean up sites as if untouched they will do everything they can early on to make sure that footprint is very small and very easy to clean up thus a much lower future price.
Maybe 4th quarter 2021 and 1st quarter 2022 will take us to new levels.