RE:RE:National Bank - Jan 6 2023 ReportFlush11 wrote: Nasty.
The very next post by him has NBF ranking YGR dead last in their free cash flow coverage at about 4%. Fugly. How can a bank put out a 4.00 target - 60% upside - and then rank the company dead last. I wonder if it has something to do with their credit syndicate with YGR?
https://twitter.com/emmpeethree1/status/1618990187186655235/photo/1
I was looking through their old quarterly reports - they reported 12,700 boe/d in Q3 of 2019. 4 years and 100 plus wells later - annual production is down 15% from that report. Debt dropped 60 million.
I realize they produce a lot of gas but what happened to the drilling results?
I took a look at that chart. To me it's non-sense. EV/DACF YGR is best value (of the co's shown) the right hand side of the chart, clearly is above my head. I don't know what that represents.
Thanks for posting it anyways.
The drillling results are what I have been whining about too. So far I don't know why the results lag the pre 2019 wells so much. Like Kav said, it must be a function of developmental drilling rather than single shots, over the long haul I guess this approach should in theory flatten declines and gather more of the OOIP
Even on the new land they are pad drilling right away instead of single tests. Boils down to being efficient I suppose......