Post by
nhellofaguy on Jan 17, 2024 5:54pm
Divy Cut as Expected
The stock is toast. They cut the divy in half as expected. With that move my expectation is that they were going to pay down debt. Nope, in Q3 they stated year end debt of 330 million, New presentation year end of 410 million. Still going the wrong way dudes and still not hedging. I also think some of their pricing assumptions are riduculous for 2025 (eg Dawn and Henry Hub).
Comment by
nhellofaguy on Jan 17, 2024 6:03pm
Clarification year end debt of 2023 - 330 million and estimated year end debt at 2024 - 405 - 425 (410 stated in presentation at start). Going through advisories now and starting to wonder if I can trust this company!
Comment by
liljohnnyjoke on Jan 17, 2024 8:25pm
so the debt is going to go up by just about the amount to pay out the %50 reduced divy?(@ $107M). As said they should have eliminated the regular divy.
Comment by
2young2invest on Jan 17, 2024 8:56pm
They should, but management is clowns with big ego.
Comment by
okgonow on Jan 17, 2024 11:04pm
ohh man!!!! i guess with your math they wont make a dime in revenue??? are they shutting down everything?
Comment by
barneyj44 on Jan 17, 2024 6:11pm
Why hedge now when NG prices are low and competitors hedges are rolling off and most likely will be cutting back production to get the price up. Trans Mountain soon to ship, Lng Canada coming on line. Tough market, even rock solid Tourmaline is down 16% this year.
Comment by
barneyj44 on Jan 17, 2024 6:13pm
Correction, Tourmaline 1 year performance down 16%
Comment by
dandu1924 on Jan 17, 2024 7:01pm
The dividend cut was wrote in the sky, you can not continue to pay a dividend via the debt. You paying a dividend when you dont know what to do the FCF.