Post by
pablo87 on Aug 03, 2018 3:07pm
Correction: Hedge loss was $20 per barrel in Q2
$20MM. $50MM in the last year. They borrow $125MM and agree to take a $50MM hedge loss as part of the loan agreement. Doesn’t help stabilize revenue because they are paid on WCS but hedged on WTI. How dumb can you get? This is the problem in the patch - too many public companies resulting in management above their pay grade.
They generated no cash in Q2 despite minimal capex, higher production and $11 more per BOE price wise. Yet they supposedly have these great assets. So either they don’t have great assets ( in which case mgmt is full of it) or they have poor mgmt.
I’m sorry but the CEO and the CFO need to be replaced.
Comment by
alta0264 on Aug 04, 2018 12:10pm
It suck but its all hindsight and they are alive to fight another day.
Comment by
ariesleaf on Aug 08, 2018 12:48pm
Time for Action is now. We must get are oil&gas to both coasts by what ever means. Put all Tanker Trucks all you can find on the road. Move Train cars full east&west. This way we can ship anywhere in the world woth out US.