RE:RE:RE:RE:RE:RE:RE:RE:Pipestone, so quiet of lateThings are starting to add up. RIverstone, GMT and Al Mehwar Commercial Investments control two thirds of the outstanding shares of PIPE. None of them seem interested in selling their shares.
https://www.newswire.ca/news-releases/al-mehwar-receives-shares-of-pipestone-energy-corp-as-part-of-a-distribution-from-canadian-non-operated-resources-l-p--839192948.html It makes sense that PIPE management wanted to use a SIB to acquire and retire shares. An NCIB is limited because at most, only one third of the outstanding shares are being traded.
After the NCIB is done, hopefully any excess cash flow can be used to pay down debt. Drilling some more condensate rich wells would also be a good idea.