RE:Buyback tax coming in 2024I forgot about this and I see no mention of it in the latest presentation. $20,000 per million in tax. Is that too much to pay for buybacks? I think you continue with the buybacks until BTE sp gets to a much more reasonable level, maybe in the 7 -8 buck range. Then you take a look at where the price of WTI is and where you get the best bang for your buck, buybacks, divy or debt reduction.
JohnnyDoe wrote: There's a 2% buyback tax coming in 2024.
What do you guys think the oil patch will do once this tax is implemented?
Maintain buybacks?
Scale buybacks back some and increase dividends, either base or special dividends?
As per Red's note, at 75 wti, there's 500 M in fcf to shareholders and it takes about 80M of that to pay the existing dividend.