RE:Debt level/Return of Capital
Sirlostalot wrote: Just wondering what thoughts on the board are with respect to debt levels and returns to shareholders. At an all businesss costs covered at 35wti and wti being in excess of 80 would Mgt not have over $2 million fcf per day conservatively , 140million for the 70 days in the quarter so far. Is there really any doubt debt wouldn't be under 400m ? Guess I'm just wondering for such a low cost producer where is all the cash .
not quite. Adjusted funds flow is about 2m a day. Free funds flow is slightly less than half that.
Yes, net debt is well under $400m. But they announced any enhanced dividends and enhanced shareholder returns will be announced on a QUARTERLY basis. So don't expect an announcement the very day their net debt goes below $400m