NGL dipped a little in Q2 which ended 6/30 but for the most part /QM was up giving it a $10 BBe avg + for the Q 77K barrels a day 24/7 NGL being down from its Q1 avg price per BTu makes no a difference really. The money and the overwhelming bulk of it comes from oil.
I would argue $$ went up not down, and thus why they want to discuss buying some of that 2023 debt to relive themselves of those interest payments. That was Moelis' plan do not see why that would end.
Do I think traders are using it to short the stock yes I do easy 50% win since the article came out, its all over the internet cries of doom and gloom and BK they ran out of money, getting the weak to sell.
Market Cap now $6 million
Seriously, with debt and assets pretty much an even wash taking out debt changes those numbers drastically as future debt changes dramatically with those interest payments taken out, lets see how this lays out. We will all know in 2 weeks.
But to say that cash went down and not up doesn't add up if you do the numbers. Avg BBe price Q2 was well above avg for Q1. The capex will be nothing all their drill commitments for 1st half of year were already met last Q per the filing and CC.
Peace out.
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