like rolling snake eyes, page-7

If by some miracle that happened please do it really early in the morning and pick a really short bridge!

You know the Morgans report content and why. We've had that discussion. Its not just Morgan's either.

A point in time move has only a small effect - one of many in either direction. SEA's preparedness for the longer term (ie. their execution) is as you say what matters. And given the focus and valuation using EBITDAX, the lower price will cause issues. And you called it with the FCF ... but the plan is committed to a big drill capex spend. Reduce that and you have a double whammy ... lower oil price AND lower production leading to even lower EBITDAX.

That SEA hasn't participated in the share price rally for E&P companies is reflective of their present fundamentals and sensitivity to future expected company inputs.

Good post MMP .... hope it works out for y'all.