They finally get it!But too little too late. It should be of no surprise to anyone that cash flow numbers will be off the charts across the board for everyone in the O&G sector, no matter if the operations is mismanaged or not or even if the company is a great investment or a horrible one. That includes Crew! With oil prices being above $100 wti for an extended length of time, this should be expected. The difference in a great, well managed company with results excellent results to show for AND a poorly run one with poor results, will be what s/h eventually get in the end after all i said & done.
In Crew's case, what this latest qtr shows is that they're neither the best managed company nor the most poorly run either. Middle of the pack if you wish. It would be assinine for anyone not to have expected these generous cash glow numbers for almost any semi decent e&p, the difference in between them will be the final end results. And for Crew, they've been lack laster & mediocre for quite some time, including these most recent ones. It's all not that bad, if you carefully look at it. They've finally got around to reducing "some" of their debt load, a constant & big complaint of mine for ages, but the core issues still linger for the remainder of the year. The mismanaged & awful hedging & derivitives. Which will be an achilles heal for them until they're completely unwound nest year.
Well, at least they got that debt down somewhat, at least they've had the good sense to do that. Which i equate to a barely dismal 20% Hopefully they'll continue doing it to be debt free & before times runs out. Not sure how much longer oil prices could remain here close to $100 along with high gas prices, which is having a devastating effect across the globe as inflations runs rampant becasue of it. Probably not that much longer and i probably figure world Gov't already have plans in place to bring oil prices down as the Russian-Ukranian crisis starts to wind down & run its course. Hopefully Crew has a Plan B when it happens. For now, i strongly advise to tread carefully when investing anywhere in the o&G sector, as we're coming towards the end of the show!
GLTA