Sept qtr report musings

Unsure : "We have reduced our drilling operations from six rigs to four, and from twelve workover rigs to eight. This has been achieved by making better decisions that have driven our costs down by over $1 million per month with no significant change in volumes. This savings is extremely important as crude prices trend lower. In order to maximize investment returns, it is possible we will make further cuts in our lowest valued activities and defer them until crude prices rebound. These type decisions could decrease Blue Ridge volumes in the near term, but would merely be a deferral in timing to a later date when crude prices are stronger"
Good, .... the kind of strategy we should expect.
I thought we had a business that made rigs in house which was cost efficient for our drilling and we could sell too. Are the now spare rigs being rented out? What is going on with that side of the business?

HMM : "You can see from the new management additions that we are making excellent progress on building our E&P management team. We now have senior executive leadership in Finance, Geology, Reservoir Engineering, Drilling, Land, Procurement and Safety. We are fully capable now of running a multi-asset company"
Meanwhile, "the team" presumably are all collecting nice salaries but as there are no "multi-assets" to manage are they twiddling their thumbs

Dislike : " over time you will see additions to our Board of Directors that will have more U.S. oil and gas experience"
I thought Mr Yeager came on board at an enormous pay-deal as he had the experience and networking connections needed. Now it sounds like he is going to bring in more of his buddies to feed on our generous cash cow. On the other hand we have this management team which are stated to have wonderful oil and gas experience, so why do we need directors?

HMM again : " Lastly, we have commenced the screening of new growth opportunities. Our timing is good, as there is a great deal of market activity as larger companies clean their portfolios after years of expansion and as crude prices soften. Our goal is to seek transformative acquisitions, diversify our investments and cash flow, and end up with solid positions in some of the best U.S. onshore plays. We are also well advanced in obtaining appropriate financing options to support the capture of new opportunities, and we expect to make more announcements in this area as our plans produce actions."
This sounds like the principal of empire-building whereby Mr Yeager and his buddies can claim "I managed a multi-million dollar company. While I was there I grew it from small to huge" thus justifying a leap of income when he moves on.
Am I being too cynical? Is all the activity aimed at benefiting shareholders (who had to pay for their shares.) Is it all considered part of the game to ramp the U.S listing ?

We are holding impatiently, pending answers thanks.