Portfolio mgmt probably. All O&G companies do it (in good times and bad). OAS did note they were not going to invest capital in that area. So bite the bullet and monetize it for what you can.
BTW net debt closer to $2.2B isn't it? Can't just pick the bits you want, but if that's what you are doing then line item Long Term Debt is indeed $2.38B as at 30 Sep, 2015.
What's the Debt/EBITDAX ratio for OAS? Apparently they can manage their debt.Are they breaking their banking covenants?
And $16.5M represents less than 1% ... why is that worthy of worship.
Have you checked Debt of XOM ... its over $40B. Meaningless in isolation.
SSN Price at posting:
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