
It must be hard to sell gas from wells for $1.11 per MMbtu. I wouldn't do it, but I had the sort of reservoirs we could shut in and open them up in winter, peak demand/price months. And I wasn't $6 b in long term debt at an average interest rate of 5.35% nor did I have dividends to pay and most certainly did not have to produce valuable hydrocarbon resources to pay myself $16MM a year in compensation, like Toby Rice. Debt makes you do stupid things you would never otherwise do if you simply operated within net cash flow.
239 Views
Mike
2 days ago

