RE:RE:RE:Sold all ATH at 4.40 and looking for a entry point for BTEgood take on it Jake. Many investors in this space dont want to wait years anymore for midcap energy companies to pay down huge billion$ debt loads while large chunk of the profits go towards the high interest rate payments on those debts, no matter how good the assets may seem.
Even the large cap names are paying down debt as a priority and returning more FCF to shareholders.
Many dont view it as a decades long growth business anymore but more of a mature industry with still good money to be made if you watch your overhead.
There is also constant chatter about future energy transition.
Sure you can make the agument its a long ways away but small strides are being made and the ideology that it needs to happen is growing.
ATH will continue to do very well with a decent oil price as they have the massive reserves, thermal operating expertise, billion$ in tax pools, favorable royalty structure, stellar balance sheet (net cash).
Its very unique company in this business.
There are some others with small debt loads that are doing well but I dont believe they offer the torque ATH does with a higher oil price and tighter heavy differential, if these were to occur.
Nice weekend everyone.