RE:RE:RE:Hedging-lets not get too excited about it anymoreKakwa before the oil collaspe, and before ARX management were in the picture, had many capital budgets that were way over 1 billion dollars. At WTI 40 a boe ARX would not pay out any dividend to it share holders so that stress test is useless and its a lie to share holders that their 12 cents a quarter dividend is safe.
Kakwa could consume all the capital in Arx, increase profit, production and improve shareholder returns.
I don't like the share buybacks because there should be better ways to return value to the shareholders. The best way to return value for an oil and gas company should be through the drill bit. In ARX case they have a lot of poor hedges to compensate for and should apologize to share holders for thier mismanagement.
All their strategies for management of the balance sheet have resulted in losses to shareholders.
IMHO