RE:RE:Total Debt and NotesThis is their guidance from Q1 on may 9th "2024 Guidance Our 2024 guidance remains unchanged with E&D expenditures of $1.2 to $1.3 billion and production of 150,000 to 156,000 boe/d. Based on the forward strip(3), we expect to generate approximately $700 million of free cash flow(4) in 2024. We intend to allocate 50% of free cash flow to the balance sheet and 50% to shareholder returns, which includes a combination of share buybacks and a quarterly dividend. (1) Capital management measure. Refer to the Specified Financial Measures section in this press release for further information. (2) Calculated in accordance with our amended credit facilities agreement which is available on SEDAR+ at www.sedarplus.ca. (3) 2024 pricing assumptions: WTI - US$77.50/bbl; WCS differential - US$14.50/bbl; NYMEX Gas - US$2.40/MMbtu; and Exchange Rate (CAD/USD) - 1.36
At this point they had changed FCF to 700M at 77.50. I will wait and see for Q2 results but I got to tell you they had better not be down to 500M FCF at 77.50 otherwise we are looking at forever to become really profitable. I guess I hold for 50 more days until Q2 results.GL longs!