RE:RE:RE:RE:Understand the markets are suffering but $88 WTIThe problem is 48 percent is hedged with draconian terms and this negates the $88 price and massively handicaps them when paying down the debt. They are limited in their ability to pay down debt even with oil above $85. MEG has no hedges, management was forced into terrible terms by the banks. Maybe in 2023 the industry lagging hedges can finallly come off the books. Can you wait 12 months? I think the earnings will be ho hum February 24th with still over 1.3 billion in debt due. That means no actions to increase shareholder value. No dividends or buybacks. MEG has no hedges and may actually rid their debt faster than BTE. BTE used to be worth more than MEG it now trades at a third the price. We picked the wrong horse. All of us.
BTE still walking like a sideways duck. At $70 oil this will drop 25 percent of it's value.