Dividend & Buyback Strategy as per Mike Kruchten...I guess anyone can speculate all they want with regards to how the company may or may not operate, but I like to think they will continue to do as they officially stated.
Why, because that is what has made them successful in the past, and that is what will continue their success in the future, no matter what the fluctuations in oil prices are at the time or may be.
This from the 3Q 2024 Webcast Nov. 06, so no need to speculate on what their strategy may be, because it hasn't changed:
Mike Kruchten
"That’s a good point. In previous years, we would buy back the full 10% of our float with the share buyback program. As you have seen, we’ve moved to more of a balanced approach with return of capital, having a very strong dividend payment and complementing that with the share buyback program that really gets us to returning 33% of our fund flow from operations. The share buyback program is really a lever as prices and production moves. We can adjust that accordingly. This year, we’re still active in the share buyback. We think it provides value given our valuation, and we plan to continue to do that and use that as a lever as we go forward with the dividend as being the main anchor in the return of capital."