RE:Return of Capital CommitmentIts all about the price of Oil going forward and the differential (which is already much improved).
The company is now in a great position to capitalize if they get favorable pricing.
They have done their job, but the Oil pricing fundamentals are out of their control.
Key line for me in this report.....
"WCS differentials have tightened significantly to ~US$15 currently compared with US$24.77 in the first quarter."
Heavy producer unlikely to have a blowout QTR with that kind of brutal differential.
Price of Oil was not that good either.
Thinking of it this way, if there is a pullback, they purchase more shares with less funds.
If you are in this for the long term, then that should not bother you.
They bought more shares than I thought (in a short period of time) and paid off some debt as well.
I have no problem with cash balance decrease if debt decreases and buybacks accelerate.