RE:It just isn't that cheapDIS-AGREE..while the debt is HIGH..its certainly NOT CRUSHING..O&G producers use the metric debt vs cashflow, the ideal is below 1x, GTE is somewhere north of 2 and a bit. Debt currently consists of 2 notes totalling $700 mill USD plus drawings on their credit facilty somewhare below $100 mill..(TO THE OTHER POSTER- this is the debt that they plan to pay off by mid 2022, the notes WILL STILL BE OUTSTANDING).
note (haha) that with the sale of their TAL shares, plus even higher current pricing , the credit facilty should be paid off by Q1 end 2022. Next thing, issue new debt offerings at lower interest rates and pay off these higher interest rate notes currently in place (like just about every other oil producer has done..)
NEXT: FIRE THE CURRENT MANAGEMENT TEAM and bring in policies about equal debt pay downs while RETURNING CAPITAL to shareholders..then and only then, will the market maybe start providing decent coverage..else, explore the idea of maximizing shareholder value and put the company for sale...dwdc