RE:RE:RE:Back to $8s real quick One down day on the oil markets and you are looking for a dividend cut. Keep dreaming. CPG can operate at $70 US per barrel no issues and still cover their obligations.
I am still buying.
ScotiaBank's take:
Latest Research (November 16, 2023): OUR TAKE: Mixed. CPG’s Montney acquisition increases its inventory of premium drilling locations to >20 years and adds acreage adjacent to its existing Montney assets. The $2.55B in consideration (~30% of EV) will consist of ~61% cash, ~21% CPG shares, and ~18% assumed net debt. On Scotia deck, we model this transaction as neutral to our 2024 CFPS/FCFPS estimates and modestly dilutive to NAVPS. Although the transaction was modestly dilutive, we believe the share price reaction is overdone and represents an excellent entry point into the stock.