RE:Come on guysIt's a tought crowd here... but its great to see all the activity in September, I think most of us were left uneasy/unsure about what MEG was doing with its FCF, so great to get that clarity. Also great to see all the buying at the Sub $18 range, clearly the leadership at MEG see great value at these prices. Additionally their continued buying will support any selling by retail traders trying to make a quick buck on the quick upswing we've had.
All in all, my opinion is there is still great oppurtunity for this company to continue delivering results to shareholders, and while some feel that buybacks are a waste of FCF.. I'd beg to differ; paying out a dividend on a smaller share pool is advantageous to those of us who are longterm investors and if WTI stays at current prices or the forecasted higher values then there will be lots of FCF to pay back to us.
Q3 results and call will provide further clarification on the status of debt and future FCF plans, hold tight for the time being.