RE:RE:This is just the beginningYou know people keep posting this like it is written in stone but somehow last year the dividend was raised before debt was eliminated so it is not really top priority is it?
It just happens to be number one on the list.
If buying back shares saves them more in dividend payments than interst payments at these low share prices then that just may be what they do.
It is looking like oil will continue to rise or at the very least OPEC will keep a floor under it at these levels or close to them so a lot of the risk just evaporated.
Paying down debt is nice but not entirely necessary right now and will just cause the share price to rise. Why not buy back now at low share price levels and let the share price rise and then pay off the debt with the money they save on dividend payments?
GLTA
vwbusman wrote: Easy - there are going to do nothing but possibly pay off their remaining debt this year - unless oil tracks much higher from here.
Don't be expecting increased or special dividends or any buy backs until debt is gone - its all in their corporate presentation.
Priorities for Incremental Adjusted Funds Flow 1. Eliminate bank debt