Re: Crew is making a mistake
Wiggling
I did buy yesterday at 5.43. In my view the decline was based not only on investors being disappointed with the return of capital framework which is totally absent but also by their reduced production guidance for 2023.
I reviewed their well performance data presented which exceeded expected type curve and I came to the conclusion that production curtailment rather than well productivity or decline rates were the culprit. So no performance deterioration but rather delays in producing caused this shortfall.
I do not think an 11pc decline was justified under those circumstances. There is one more point. If you believe natural gas prices are likely to rebound those shares will be looking much better come fall of next year clearly not an eternity. Yes I do not see an immediate catalyst barring a very cold winter, but I sure do beginning sometime in the fall of 2023 or should natural gas show a meaningful recovery through spring and summer--not impossible.
Take care
J