They announced in when WTI was ~$100. It's now $120. The return on new wells now exceeds a share buyback. This is why they won't buyback shares now unless the price drops significantly.
WTI at $120, USD appreciating is helping us too. We're still printing cash at the moment.. let's just hope there is no global recession.
They announced in when WTI was ~$100. It's now $120. The return...
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