Q3 not as Bad as it lookedWTI in the $ 74 range.
Differential in the $12.50 range
Premium in USGC $ 1.5 guess on my part.
Assuming No debottlenecking capital spent.
1350 - 450 = 900 /4 = $ 225 M a quarter
75-74 = 1 X 31 /4 = 8 rounded up
$ 16.25- $ 12.50 = 3.75 x 47 / 4 = 44.06
Finally for the heck of it add $ 13.5 for the USGC Premium
Potential FCF for the quarter
225 - 8 + 44 + 13.5 = $ 274.5 M not to shabby
Narrowing of differential make a huge difference this quarter.
Fuz