Post by
ascii2 on Jul 05, 2022 7:36pm
Thank god they did not buy XTO Energy at 1.9 Billion
If they had bought that then debt would have increased quite a bit. Now CPG will be debt free before the end of next year and then gravy will be distributed between less number of shares (after buybacks). No other north american company has PE ratio around 1.4, paying down debt, buying back shares, giving dividend (measly but still it is there). On target to achive debt level below 1.3 before the end of 3rd quater (within 85 days as 5 days have passed) to increase dividend. Wareen Buffett is investing in Occidental Petroleum and Suncor. He says "dont buy a farm thinking that it will rain next day, he buys it for 4-5 or more years to average higher returns.
Comment by
Volkomm on Jul 06, 2022 8:11am
I wouldn't be surprised if they picked up some Duvernay acreage from Whitecap. WCP has no hope to ever develop all those areas, and it doesn't make sense for them to. But by then CPG will be debt free and won't be an issue.
Comment by
Moemoney42 on Jul 06, 2022 9:34am
Agreed, I could see some horse trading going on in the area once WCP closes the deal and evaluates what they have.. that would be good for both companies actually.. full disclosure.. I own both.. ;-)