WCP buys XTO Canada for 1.9 Billion
As earlier mentioned in another post, XTO parent companies, Exxon, Imperial oil. Grant would not be buying if the company felt that oil prices are going to plunge. The media, politicians, the woke keep trying to take oil prices down but demand and supply is what rules the price. Did they over pay? WCP'S debt was going to be under $800 million after the 2nd quarter results or lower, now it's going to be over $2 billion. They just added over 30,000 bpd production with a good mix of condensate & NGL with extra nat gas. The divy also starting in July will be increased to. 0367 cents per month increasing even more in the near future. What does this mean for buy backs? Hopefully they don't dilute by issueing more shares. This has now become an upper tier oil & gas company and I'm not worried about the current stock price, next year should be north of $20.