Quote:
Originally Posted by Rutuu
The investment environment is poisoned in the US and Canada because E&Ps have over promised on growth, used debt to get it and smashed their profitability. Become a sustainably profitable business and investors will follow.
There are way to many management teams running around town at the high end of the cost curve that have a history of running companies that when I add CFO+CFI it's negative for years.
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It was a shift that needed to happen. When I started my career I was absolutely dumbfounded that all investors wanted was growth and leveraged growth at that. It didn't make any sense.
Hopefully coming out of this these balance sheets will be tighter and capital projects will actually be supported with free cash flows rather than the delta being made up on lines of credit.