Post by
ztransforms173 on Mar 18, 2024 11:10pm
BASIC RULE: NCIB Is DETERMINED By MONEY & NOT TIMIMG
- it is JUST AMAZING to READ that SOME BTE OBSERVERS {HOPEFULLY SHAREHOLDERS} DO NOT UNDERSTAND the MECHANICS of Baytex Energy BUYING BACK their PUBLIC FLOAT common shares
- the FREE CASH MONEY has TO BE IN THE DOOR to ACQUIRE BTE SHARES in the PUBLIC MARKETS
- the 7.375% 2032 Notes EXCESS FUNDING will NOT be USED in NCIB TRANSACTIONS but MOSTLY to DRAW DOWN the USD CREDIT FACILITIES and I believe SOME , about USD 30 million; will be ADDED to the USD CASH BALANCE to INCREASE WORKING CAPITAL {mainly FINANCING the account receivables with HIGHER WTI-LIKE prices for the light sweet shale cride oil}
- so the NCIB will OCCUR when BTE is GENERATING FREE BULK CASH FLOW and this will HAPPEN in the Q2 and Q4 QUARTERS of the year
z173
Comment by
raven16 on Mar 19, 2024 12:03am
It's Amazing Smart Guy How You Would Know This........... I believe SOME , about USD 30 million; will be ADDED to the USD CASH BALANCE to INCREASE WORKING CAPITAL
Comment by
JohnnyDoe on Mar 19, 2024 7:11am
Maybe he wrote Brian and asked? Brian is usually quite good at answering questions That said, I don't like this answer. Playing games with total and net debt and moving the increased shareholder returns further down the road.