Energy Investing - TD on Meg , Suncor and Diamondback - Energy Investing - InvestorVillage


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Msg  326638 of 334989  at  5/4/2021 8:35:09 AM  by

nipper_dog99


 In response to msg 326627 by  us2u001
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Re: TD on Meg , Suncor and Diamondback

 
wow, this is great progress on MEG...
 
We see the balance sheet rightsizing quickly, assuming further capital restraint: MEG spent $70mm in Q1/21 (27% of its $260mm budget), which reflected sustaining/maintenance capital. This drove surplus cash flow generation of $51mm. We calculate $432mm of strip FCF in 2021 and see MEG exiting the year with net debt/total capitalization of 39% and 3.4x net debt/FFO. We have to go all the way back to Q2/14 to see MEG's leverage metrics this low.


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