RE:Capable of Paying a Dividend Free cash flow was 13%. Dry gas producers can't do that right now. Plus due to their advantageous marketing and minimal hedging, they retain excellent upside on NG.
I sort of like the current strategy. For illustrative purposes, build it up 110,000 $600MM annual FCF, bring share count down to 150MM, pay $4 annual dividend.
If I compare to ARX, much better. $2.7Bmarketcap x 3.2 condensate = $9B. ARX addl dry gas 90-100K dry gas ain't worth $4B.
Market doesn't understand what a GEM this company is.