"IMO the only thing that will make SEA share price go up...

"IMO the only thing that will make SEA share price go up (sustainably) is to demonstrate their ability to repay debt from cash flow and still maintain current production rates. If they can't do this they are dead in the water."

Isn't that a change of tact by you. That's the maintenance capital, growth capital discussion we had. Maintaining flat production is a reduction in Capex and even more FCF to put towards repaying debt. What we want is the "right" amount of (profitable) growth while still generating FCF to distribute to shareholders in the most economic fashion (which I think it debt repayment).

We may be a little ahead of the curve ... it is structural and it is in favor of SEA ... higher cost Bbls are being replaced by lower costs Bbls ... the whole point of the PXD acquisition and that "transformation" (almost every E&P uses that word to describe their A&D activity) is what (some of us) are seeing now.

How was the 1st Qtr a shock to draw on debt? That actually said they would be doing that.

But you're right, its a horses for courses market. Dead horses resemble Sanchez & Halcon. Does SEA look like that? Actual objective quantitative metrics please not subject qualitative statements.