Post by
Helloworld on Sep 11, 2024 10:11pm
Time to Maintenance Capex?
What is sustaining capex number? 90 million a quarter is what they are doing in 2024 and it has grown production by about 1500 bpd a quarter.
To me seems a focused 60 million a quarter would sustain around current production.
60 million a quarter capex would breakeven at 55 wti and fcf over 25 million at 65 wti. That would be a million shares a month in buybacks if they were ok with debt at $400 million...
Why grow if market does not respect it. Spend 30 million a quarter on ncib / sib and see where you are in a year. Either share price appreciates substantially or share count drops to 60 million and you do it again next year.