RE:RE:RE:DIV
"Leaving more than $10 million for share buybacks, etc.."
Maybe, maybe not. It depends on the assumption you make for WTI going forward.
This morning WTI trades below US$90 - the lowest since Russia invaded Ukraine six months ago. The trend is clearly down.
Should WTI rebound to US$100+ all is well. If it keeps dropping and reaches US$80 next year as indicated by current future contracts, there will not be much "free cash flow" left for buybacks or acquisitions after paying the $0.12 yearly dividend.
Time will tell.
As a long term investor, I am confident that things will work out and we will see $2 a share by late 2023. If not, oh well, I will wait until 2024!