RE:CWC is just getting started. Debt free in 2023 + restore divEstevanOutsider wrote: is my opinion. The service rig industry is also hot. Only thing holding CWC back from adding more service rig capacity is staffing which is bolstering rates. They've added 10 triples in the US and that hasn't been factored into projected EBITDA. Ensign says expect $30K dayrates by y/e in 2022. That's a game changer for CWC.
I believe CWC clears $30M ebitda this year which makes them one of the cheapest oilfield service companies out there.
They'll restore the divy after going debt free by 2023 y/e and the yield could be large.
Prob CWC is a consolidation candidate at some point.
Tons of potential here, plus, Duncan Au is a documented winner....
I agree with you and your analysis of the projected EBDITA, it is quite similar to the companies 2022 adjusted estimates of $25.3M. (Which you can find on their website). Imo, as for the div., I wouldn't be surprised if Duncan and the board restored it sooner or NCIB. I would imagine they'd want to keep some debt on the books to expense interest and boost ROI. Lastly, from what I understand of Duncan, you are spot on. I enjoy watching them work on bringing the pieces together.