Post by
Seppelt on Aug 28, 2024 9:00pm
Partial infrastructure disposition
In its Q2 report the company said:
"the 50% working interest sale of our 15-07 Kaybob complex to Pembina Gas Infrastructure ("PGI") is expected to close in the third quarter of this year."
There is one month left before the deal is closed and the company receives $520 million ($480 after tax proceeds).
This was a great deal but the market is not very excited about it, or the excitement was short lived. Hopefully, the market will notice when it sees the money.
Comment by
filefish on Aug 28, 2024 9:29pm
An SIB for 40 mil shares might get the market to notice. With WCP's demonstrated organic production growth plus savings on dividend payments, what better place is there to invest this.
Comment by
Seppelt on Aug 29, 2024 8:01am
The company said $200 million will go into buybacks. The rest is for debt reduction.