There are TWO things that could have CR drift much lower in 2024. This is one;
$165 to $185 million of total net capital expenditures7, expected to maintain average annual production of between 29,000 to 31,000 boe per day1 (the “2024 Budget”),
So, NO GROWTH at all in 2024.
This is another one;
With ongoing supply and demand imbalances in global natural gas, the current spot and future strip prices have remained under pressure. In response, we are investing prudently to advance key milestones of the Groundbirch Project while deferring large capital outlays until they are supported by an improved natural gas pricing environment.
Spot under pressure so they are DEFFERING large capital expenditures until natural gas environment improves and suports those large expenditures.
Than, there is also the continually declining NG price, currently trading at 1.87 down again in after hours.
I guess time will tell here whether those negative factors above affect the share price negatively or not.