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Energy Investing
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CVE debt/share buybacks - what i see according to their slide as posted by liltex1 here: When $10B > debt > $8B there will be "increasing shareholder returns" So debt is expected to be below $10B by YE, so we are there 1Q '22 COP holdings at end of 2Q were 188mm shares per post by Bunker1010 Assume they stick to 500k/trading day & COP should end the year about 130mm shares My guess is that CVE "increases shareholder returns" in 1Q by buying a chunk of that 130mm shares. CVE could buy 50mm for around $500mm assuming SOME price appreciation by then. Meanwhile COP sells another 30mm in open market in 1Q leaving them about 50mm shares at start of 2Q. Then I could see CVE buying enough in 2Q to guarantee that COP is out by end of 2Q. That's what I see , anyway FWIW |
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