RE:RE:RE:RE:Deep Basin Production - effectively 250,000 boe/d 25% LiquidUnless the company is doing so well that it can pay down it's debt AND buy back shares AND Increase the div.
What's to stop vet (legally) from printing 70 million shares tomorrow and paying off their debt?
Using debt to pay a dividend = bad
Using debt to make a good purchase = good.
You assume vet couldnt print shares to buy westbrick
I assume vet chose not to.
Why have that credit available if you ain't gonna use it?
If they stop buying shares and pivot that cash to debt repayment they have it paid off in 7 years. Just from the buy back money.