RE:RE:RE:PetrobullThanks Wolf , I think I had asked you that before as the $6/$7 rings a bell . This has been a stock I watched for years while I suffered with others in the sector , namely Pony , Bir , etc . When Pony got sold at bargain basement prices it was an opportunity to reassess and realocate those funds .
BTE has great property and a good product mix with US dollar exposure (Eagle Ford) . As the price of oil recovered and debt reduction became the priority I continued to add to this position . I have always looked at BTE with a long term view although I think 2022 will be a highlite of this journey . Once the first debt target is reached and share buy backs start , it should cause a re-rate of this stock .
2021 hedges expire tomorrow and debt servicing costs have been cut by $30 to $40 million all of which will add to FCF . Year end numbers should be stellar and with Omni-con being another false alarm , demand should ramp up rapidly .
The O&G sector is still grossly undervalued and there is still plenty of liquidity in the market , I expect a little more rational valuations for O&G stocks as we navigate 2022 .