RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:5% Production Increase based on share buybacks (YTD 2024)ARX poor performance is real and it is measurable, so if you think that dumb? what can i say.
ARX needs to be competative on the gas price they get, Kakwa saved the day for them and they ramped it up in 3rd quarter, and it represented 70% of the funds from oil + gas sales.
The gas side of the business they have destroyed, to the point that their cheapest, most economical production they have (Sunrise) had to shut in because they did not have a market for the gas, and it would of lowered it already dismal $1.78 mcf it got in Q3. Not having a market for their cheapest gas is a failure of management.
ARX can produce as much gas as it wants, its doing the industry a disservice by selling it so cheap.
Get those rats running faster, because they are only getting the scraps in terms of oil and gas pricing. Gas Marketing and Hedging should not fall under the CFO, i don't know if it still does but historically is has been a major disaster.
My estimate is that if TOU sold gas for ARX, ARX would of realized 200 million more last quarter. Maybe thats what ARX needs to do is strike a gas marketing agreement with TOU
Good Thinking, it must be horrible to be in operations, and seen you hard work diminished in value.
IMHO
MHP