RE:RE:RE:RE:RE:Long Term TargetsNuttal's charts are quite often a little misleading. Usually his charts are based on $100 WTI. If we were to get an average of $90 WTI until the end of Q1 of 2024 we would likely hit the $400m in debt and around 460 in shares. I would be very pleased if it played out like that.
JohnnyDoe wrote: red2000 wrote: Long term debt calculation from Eric Nuttall
WTI at 90$, strip nat gas and USD/CAD exchange
WCS diff at 20$ for 2023.
Red that chart is a little misleading in my view. It presents what Nuttal wants you to see or the story he's trying to tell, but it doesn't present the story that oil companies are telling.
Nuttal is presenting what happens if all fcf less base dividends is used to pay off debt. That deliberately doesn't consider any of the companies shareholder return plans, almost all of which include some level of buybacks.
He's got Baytex debt free Q1 2024 at 90 wti but that's not what Baytex is trying to achieve.