RE:BNE 2023 will be a decent year, but 2024 will be epic.
very impressed with the new CEO. He is assembling a solid team, the balance sheet will be bullet proof by year end, production is stabilized at a higher level, the exit rate this year should se5 up for a fantastic Q1. Basically, they are now maximizing profit out of the cardium acreage.
The company will exit this year with around 120 million in debt. Probably over 100 million in free cash next year if oil prices hold at this level. Maybe a bit more from higher nat gas prices too.
The debentures won't be redeemed for a couple years yet. The term loan will probably stay on the current payment schedule for at least another year. That will only cost around 18 million in 2024.
looking forward to seeing what they do with all of the extra cash!