I see your point. The lenders have provided the guidelines for staffing and expense. Perhaps these unnecessary positions and compensation levels have been eliminated when the lenders handed out the new marching orders in June, 2020. Watson proved during the first six months of 2020 he couldn't be trusted with the checkbook.
"Financial flexibility. Our primary source of capital is cash flows from operations. As of December 31, 2019, we had $95.8 million outstanding on our credit facility and availability of $39.2 million, and $100.0 million under our Second lien credit facility, and we generated approximately $73.6 million of cash flows from operations for the year ended December 31, 2019. Our First Lien Credit Facility was amended in June 2020, with the borrowing base reduced to the then outstanding balance of $102.0 million, with no further availability. Additionally, any excess cash, as defined in the First Lien Credit Facility, must be used to reduce the balance and simultaneously reduce the borrowing base to the new outstanding balance....Due to the drastic decline in oil prices that occurred in early March 2020, we have suspended our 2020 capital expenditures indefinitely."