Post by
bossu on Feb 09, 2015 8:30pm
Dramatic situation....
Just 8 weeks ago they were projecting fund flows of 200 MM to 210 MM and a capex of 165 MM.Now, the capex is down to 100 MM with a 10% reduction in production and a dividend cut!!! Not mentionning the 700 MM debt!! Wow what a dramatic situation.They really are in big trouble!!What a mess.
Comment by
emmitt on Feb 09, 2015 8:37pm
I think they were overly optimistic with the WTI projections 8 weeks ago. I have a lot more confidence in management today then I did 2 months ago. I disagree that they are in big trouble. They are going to be fine. They are now more focused on strengthening the balance sheet.