RE:RE:RE:RE:Danduu son - see latest BTE buybacks filingsFrost19 wrote: WTI seems to be pretty rangebound between $70-90. I'd expect that to continue although I have no idea what the future holds.
I understand your concern or preference for reducing debt but Baytex has the flexibility to pay down 100M, 300M (or whatever amount) of debt at any moment they choose. They've chosen Q4 to do that. They can't buyback 100M or 300M worth of shares on any given day. It has to be spread out over time unless they do an SIB but that will mean a higher share price and more $ spent.
I think management are correct in their approach. By year end there should be significant progress on reducing share count by 7-9%, reducing debt 10-15%, increasing production 5-7% and still paying a 2-3 % dividend. Even if they hit the low end on those targets, it's still a good year.
I believe the frustration with Baytex is that people see a very undervalued company and buy in expecting the share price to rocket up to fair value instantly. Doesn't happen on our time but it will happen at some time if the fundamentals continue to stay strong.
I don't see it undervalued, I see it mismanaged,and because of management, we are undervalued.each quarter it shows.No one knows the future that's why we need a balance.I have know problem with buying shares,A little common sense does wonders.