RE:RE:Scotia Confirms January 2022 Petrinex Data! Production up!Yeah, based on my math a couple weeks ago, the capital efficiency forecasts doesn't translate into actual results. If you look at their $300M budget and try to allocate amounts to sustaining vs growth capex, the guidance doesn't live up to reality.
For the life of me, I can't remember if it was VIII Capital info or management info, but... SDE is forecasting double digit cost inflation in their capital budgeting program, which makes me believe it's overly conservative.
For their guidance to make sense, it had to work out to a 35%+ decline rate (which I don't believe it is) or much lower capital efficiency incoming.
Underpromising and overdelivering overall.