RE:RE:RE:RE:RE:BuybacksBirchcliff had 186m in net debt at the end of Q3. They reported 182m in FCF and reduced debt by 88m in Q3. They also bought back preferred shares at 88.2m.
In Q4, natgas prices particularly at US hubs were ~30% lower. I would expect FCF to come in around 130-140m. They also paid out 57m in dividends.
I would expect that debt has been paid down by 70-80m in Q4, similar to Q3. Debt likely sits around 100-110m currently.
Nat gas prices should rebound somewhat. Warm temperatures are short term, and we should see $5 in Q1 once we get another cold snap. They should be debt free some time in mid Q2.