Be careful
@leverage else the good Doctor will pen a "Buc and Leverage sitting in tree......." for you also.
Maybe Acreage has mistaken Buc's posting? After all, the same glass is called half empty by one and half full by another. I recall some pretty acerbic from you just because I presented facts (such as the cash margin, covenant default, Bakken price differential and such) that most would interpret as being less positive (see I can't even write negative anymore) than what has generally be posted before.
Surely if it's good for the goose its good for the gander?
@Rob79 - DISAGREE on the operating result - but will definitely be looking to 10Q.
If you are going to include "Hedging" (which is acknowledged by just about every company that that revenue is not a part of recurring operations) then you have to include the DD&A expense (which many companies do in fact and that is why we have these GAAP adjusted EBITDAX numbers)
Page 15 of 10Q (using Dec)
"The Company has not designated any of its derivative contracts as hedges for accounting purposes". Its standard language.
In that Dec Qtrly, the DD&A expense was $1.118M. Expect a similar (but larger) number this Qtr.
It is a distortion (of fact) to call it a positive operating result. Positive EBITDAX maybe.
Wholeheartedly agree that
"The highlight for me is the production cost ($1,239k) which for 75,336 boe is around $16.45/boe."
if that is the LOE is the highlight.
