RE:RE:RE:Q2 prices and reasons to cheer up on a rough dayActually, it should be lower than that when you consider that they have already been going balls out drilling
every day for over a year now and only spent $21.3 million on capex last quarter.
Here are the relevant quotes from the q1 MD&A:
"Capital expenditures were $21.3 million"
"Operations Update
The Company has kept one rig drilling since commodity prices rebounded, drilling 350 days during 2021 and all of Q1 2022. This continuous drilling program provides maximum efficiency and allows for significant cost reductions. In addition, drilling on multi-well pad sites will typically allow the Company to drill right through breakup.
The production declines that were experienced during COVID have now been reversed, cashflow exceeds capital spending and the Company is now positioned to reduce debt and ultimately return capital to shareholders."
Even if those 15 days of non-drilling occured during the last 12 months (unlikely) then the capex would have been $21.3 million for 350 days which would be equivalent to $22.2 million for 365 days.
kavern23 wrote: Even if YGR is drilling as hard as possible...the max YGR should be able to spenf in a Q is around 35m ish. Expecting 29-39m Q2 capex. Leaning to YGR falling on lower side and under 34m because they used alot of existing pads on new wells drileld in Q2.
32m capex would be ideal as should be 20m plus paid down on debt for Q2.