Nice to see PRQ considering exactly what l suggested over a year ago: a modest inaugural divvy. From the most recent President Report this past week, and for the very first time, PRQ are openly talking divvy. I had expected the Grays would want paying, just not this soon:
"Petrus has always been committed to being disciplined and flexible. In light of the recent pricing environment, particularly current and forward natural gas pricing, we are re- evaluating the 2023 capital program to ensure it meets our investment threshold. We are also assessing alternative strategies including further debt reduction as well as options for
returning capital to shareholders."
Great. I suggest the BoD commence at 9% which @ $2 a share = 1.5c per month:
$2.00 x 9% = 0.18c
18c/12months = 1.5c/month
123,391,751 shares outstanding = $1.86MM/month (which is very manageable).
$22.2MM per year
~78% owned by Grays means $17.3MM per year going back to the 4 people who saved the company.
Gets my vote; the ~$48k per year that would come to my shares helps me be agreeable.
Now let's get to 15k bbl/d.
Cheers