RE:RE:RE:RE:RE:RE:Catalyst Are they bringing these wells online as soon as possible or are some DUCs?
Guidance is 32,000 boe/d for 2022. I think they will be a bit higher, but in the last few years, they stayed close to their guidance.
Oldnagger wrote: With all the drilling on the 4-14 , 4-21 and 4-17 well pads (15 new wells) It seems fairly obvious that Crew should not have much trouble attaining 40 kbpd in 2022.They are already at 32.5 kbpd in january. I think it is only because they will have attained their present maximum facilities capacity that they will now be concentrating on paying down debt. Other companies are now locking in new 5 yr notes. The latest that I am familiar with is IPCO who recently replaced all their remaining reserve based loans with a note , and then proceded to announce that they would henceforth payout 40% of cash flow over 40$ crude pricing as either dividends or share buybacks !!
Ipco has a similar credit rating as Crew ( B+ and B1). Their interest.rate is 7.25 % There are no restraining clauses on dividend payouts !!
With the 300 million USD note and 152 million shares @ 9 $ Ipco has an EV of 1.8 Biillion
versus Crew at 0.950 Billion . So perhaps crew will be limited to about 200 million Cdn$ financing ??