RE:RE:RE:ARX swaps $47.33 oil trades for 95.00 * 8470 boe/day"Shareholders" as in, us.. but not including MyHoneyPot as he sold his ARX shares at $15 as he promised.
I like the mgmt team, they've done a great job & their Nat Gas marketing fetched incredible prices in Q4.. if the hedges were so bad, how did they beat on earnings (not even FCF)?
Shame that you sold your shares MHP & that you don't like the mgmt. team here.. good luck with Tourmaline though, a solid company also.
All other ARX shareholders, other than MHP.. this company is doing a lot right.
MyHoneyPot wrote: No i couldn't but i do clearly recognize an amature hedging methodology.
They have bad hedges ll the way out to, 2024.
Even the 2023 hedges are ugly.
Its a clear case incompetance of an accountant that became CFO, and clearly had no concept of what to do, and did not employ the right people.
Either the direction was bad, or the execution or both.
Shareholders are paying the price for management incompetance and i have sure they found ways to bonus themselves, even with mutiple Billion Dollar Blunders.
That why you have professional who are expert in these areas do this.
It is so sad, and they have a 10 minute 4th quater, year end. Poor management.
Tell Eric the reason why the share price does perform is the industry leading hedge losses.
The revenue side looks great, really just add a billion to the debt that is how it is trading.
IMHO