Poor Communication
I sent an email to investor relations,
On the last confrence call Bibby the CFO confessed that the dividend that is to be reviewed yearly? was based on absurdly low and unrealistic prices for commodities, and it is unrealistic to use those numbers for projecting a dividend for the stock. So what does that mean the dividend is at the sole discression of the CFO? Really stupid statement.
People have zero confidence in this management team, and everytime they open their mouths they shoot themselves in the foot.
Until ARX gets a new President, they stock will languish because you have a technician running the company, that really does not have a strategy for ARX as a shareholder investment.
Is ARX an income producing stock yes or no? this is a real question investors might ask, i would say NO if they are going to base the dividend on 2 dollar gas and 40 dollare WTI does not show investors a lot of confidence.
So management is dismal and have cost the shareholders billion in mismanagement. Once the condensate hedges roll off at the end of the year a big pop will happen in Cash Flow.
Now we only have dismal gas hedges left.
IMHO