RE:From Twitter Crew Energy four year Summary This twitter post combined with Cheadle's comments on BC sourcing and present contracted supply , brings out a very important issue. That issue is that LNG is usually sold on Global markets as long term contract supply. Given the recent turmoil in the International markets , huge sums of money have been either won or lost on both sides of recent spot transactions depending on who was hedged or not.
My reading of the investment markets is that both companies and investors are very much desiring stability. Dale is right , neither dividends nor buybacks guarantee that stability. Futures markets have become nothing more than Casinos . That leaves two possibilities for Crew . Either out right sale of some or part of the assets (i.e. Groundbirch ) or direct contractual natural gas sales with a price adjustment clause. (With minimums and maximums )
The beauty of both these options is that they will place a much higher valuation on Crew . Either sell Groundbirch then use the proceeds to really ramp,up the high condy areas , or sell gas on a long term contract and let the investment market finally ascribe to Crew its true value which has at least partially been attested to by the reserves report !!