RE:RE:RE:RE:Quarter went all back into capital spending! 413 mill! dllscwbysfn wrote: 90 more days for me Johnny and if we do not get some really good results it will be the end for me. I think I am only staying as I think WTI might run up a bit.
JohnnyDoe wrote: dllscwbysfn wrote: Yes , however looks like production is down from Q4
Owlseye1 wrote: 1st quarter is always a busy 3 month for capital spending, drilling. You need a certain amount of well to keep production flat ,let alone grow production organically this was the right thing to do investing back into drilling or bte bottom line. Executed a $413 mill E&D program largest in company history!!!
I'm not impressed with what I've seen in the year since the Ranger acquisition. 700M fcf in a 77 wti environment. That's just not cutting it at the debt load and it's way below the fcf levels they touted upon acquiring Ranger.
There always seems to be reasons that we're not moving forward. This Q its because of a huge capital program (which I do understand).
Based on their 50% returns commitment, with 700 fcf over 3 quarters, that's 350 to shareholder with roughly 50M of that going to dividends. So 300M to buybacks. We can expect maybe 7 or 8% share appreciation due to buybacks, but we're still looking at exiting 2024 and being 2+ full years away from the debt target. At strip. Barring surprises.
I don't have 90 days. I was hoping to get a nice run on oil stocks and exit the sector in the fall, but Trudeau had other ideas for me. I'm caught up in the capital gains issue and need to decide whether to trigger gains by June 25. It's either in or out by that date.