Birchcliff Energy Ltd T.BIR

Buybacks

[Donhow]

Am I missing something or is there no buybacks under $9.30?

[PlutusofCrete]

There might be but may not have been filed with SEDI yet. Given, it's year-end close their team might be delay with the admin tasks.  Otherwise mgmt is waiting for even lower share prices. 

[Donhow]

If management is waiting for lower prices they know more than they are letting on. Maybe an update on the debt ( which has been the reason for the lower than peer dividend in every news release for two years) should be in order. I would expect a net debt of zero to to be a material event.

[checkup]

You are acting like a dumbass

[Donhow]

Fair enough. I am disappointed that Bir doesn't buyback some shares or issue any kind of dividend to support the price. I also think they should be pretty close to debt free. The way to increase price is 1- more production 2- less shares3- higher sustainable dividend. How can they defend against a takeover  when the price is so low? I think if they sit on cash Trudeau will tax it.

[Sskcdn89]

Birchcliff had 186m in net debt at the end of Q3. They reported 182m in FCF and reduced debt by 88m in Q3. They also bought back preferred shares at 88.2m.  In Q4, natgas prices particularly at US hubs were ~30% lower. I would expect FCF to come in around 130-140m. They also paid out 57m in dividends. I would expect that debt has been paid down by 70-80m in Q4, similar to Q3. Debt likely

[Skylar1]

I say your very conservative , i'm guessing averages weren't 30% lower and don't forget production will be higher in the fourth and less interest paid on debt , i think they are  debt free by mid to late Jan . My two cents. Here's to Freeport coming online and winter showing up and sticking around until march.

[Billybabin61]

Agree, I think they will hit their target of between 60-70 mil at year end 2022. Besides the anticipated higher production in the Q and interest expense, they saved a few mil or so on not having to pay the preferreds that Q.

[robert41]

A big divi at peyto hasn't helped their price. Adavantage has bought back 11 million shares in December it hasn't helped their share price. Birchcliff has a huge float their buybacks would have to be massive to support the share price so far the buybacks basically took care of the options issued. I would like to see the float lower but not until debt is zero.