RE:RE:RE:RE:RE:RE:RE:RE:RE:Fighting inflationCome on guys.
Question is what are we expecting from PEY in a couple of weeks well 3 or more actually. They never seem in a rush to report.
I don't expect huge pay down of debt, maybe $50 million to $75 million.
However, I do expect a decent increase in production this year, well over 110,000 boe/d eq.
On another front based on the last monthly it may look as if they either did or looking hard at more property. Prices may not be as high as previous lately due to the retracement of prices in commodity and stocks. We all know PEY likes to do things the opposite of others, produce and grow when things are tight and costs lower, pick up small chunks of land or production or even gas plants slowly over time. I mean why not buy a plant for less than you can build one. Fix it up some, if too much capacity take some down and move that capacity to another location.
Wish I was in the war room when they make these decisions to see what really goes on.
I have seen other Presidents make horrendous decisions because they are myopic and can't see past their one way based on nothing more than a wildcatter. I told the President of one to start looking into the same properties PEY was doing and why, that company may still be around today instead of bankrupt.
I marvel at the speed PEY can move, adjust, build up something new, especially lately. Sure they suck on the hedging side but it is well over 50% of the companies out there due to bank requirements.
PEY's increase in production from the lows of the last few years is larger than some smaller companies total production and it is not hedged at those lower prices hopefully.
I am hanging in, hanging on.