RE:Can't sugar coat that quarter - it sucked.Absolutley brutal, and it rests completely on management. The assets they have are top-tier.
Only 100m in debt paid down, net loss, less fcf than q4, 20% dividend increase is insulting. Higher capex and opex. Crazy high royalties with brutal hedges.
They keep saying in their deck that dividends are the primary capital return mechanism,. Yet they are using a 45$bbl/3$gas as a reference?
WTF year are these guys operating in, 2020?!