The End Game Good morning Gentlemen,
I have a comment, and a question, maybe some of you can weigh in on.
The Comment:
The Last year of sideways trading has been frustrating for me, as I'm sure it has for all the longs (Crew being my only O & G, I know some of you are better diversified than I and hold many O & G stocks).
I am feeling pretty confident in Crews plan of upgrading to handle more barrels of Condensate and NGL from Septimus and what not, but, if they have handling capacity for 40,000 BOE/d, and we are exiting 2023 with 32,000-34,000 (guidance) I'm just wondering, does anyone else wonder why we aren't getting to the max capacity (40k) before we are dreaming up 4 year plans that are going to pull Crew right back into a hefty debt load?
I just feel that with what the last 18 months or so allowed Crew to capitalize on in Debt reduction, it feels kind of nice to not be debt laden and maybe enjoy a bit of coasting (while still increasing to the 40,000boe/d)
The Question:
For me personally, I am hoping the Canadian LNG Phase 2 FID is made with approval within the next year. With the potential of that Phase moving forward, would say, Shell Canada (for example), if they were looking to secure more reserves, would they likely come knocking on the likes of Crew before the public announcement of the FID was made? Or after? Anyone?
I'm just guessing, that, if that's the direction they were going, wouldn't they get a better deal on a purchase of a Co. like Crew before the Announcement?
I don't know what it's going to take to get the SP of Crew to more accurately reflect NAV.......we should be north of $12.00 (and that's still a discount!)
Holding and frustrated......... although, happy there's been some recent tailwinds!
PonyBoy Outsider
JMHO