Oh yeah, that's already out of the picture, really, just look at cash etc last Q they just pump oil for a year oil stays above 55 and hopefully spends some time in the 65-70+ range their golden.
That's why even with not a lot of volume and oil being down it is holding steady people just bid sitting, they are out of woods with BK with what they put in place, and going forward everyday it just gets better and better by next Q numbers we should be .30-.40 again and if stays the same , low capex just pumping oil doing what is committed to, next Q IMHO we will be near a buck IMHO.
They went from 175-190 mil per Q capex to 18.1 they say will hold to 100-150 mil this year entirely only spending what is needed to keep up with commitments. I am hoping it is closer to the 100 mil end, obviously.
Smartest thing they did was bring in Moelis when they did, before was to late, the second smartest thing they did, they listened to them, seriously, I mean that, most don't, most put some in place, a little in place but still want to do their own thing, Sanchez didn't they said okay, lets do it.
I almost didn't think they would do the suspending divis to preferred but they did, my hats off to them.
Peace out.
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