Fat (cash flow) & Flat (capex/production)
On you last point (why yields so high), does this setup for a generalist bull trap if they get people to price their stocks into 10-15% yields at strip? It's like mgmt forgets this is a cyclical business.
That means the return of cash taxes then, at some point....IDCs were always the treadmill that kept giving, hence the attraction of growth capex...
On you last point (why yields so high), does this setup for a generalist bull trap if they get people to price their stocks into 10-15% yields at strip? It's like mgmt forgets this is a cyclical business.
That means the return of cash taxes then, at some point....IDCs were always the treadmill that kept giving, hence the attraction of growth capex...