RE:RE:RE:Negative FCF in 2024I wouldn't focus too much on the FCF yield, and it being negative for Crew. It's negative because everything is going to the drillbit.
You see the same with Kelt, and was the same for Headwater.
Crew has to bite the bullet and persue the 4-year plan. Their growth acreage is Groundbirch which needs infra. This will take time and cost $$.
H1'23 has almost no capex whatsoever, as they intend to knock down the debt as much as possible. I would not be surprised if they have to roll a portion of the notes.
This is a growth name, and they've been very clear about it. If you're looking for dividends or SBB this is not the name for you.