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Penn West Petroleum Ltd. Message Board

  • t4two45 t4two45 Jan 30, 2009 3:14 PM Flag

    With Oil at $42 Can Payout Continue?

    Have not seen how much hedging has been done, but PWE may need a big increase in oil price to keep paying distribution. Makes no sense to me to pay off the $3.3 billion in debt out of new money and continue to pay the big distributon. Of course, even if they used half of this issue, it'd barely make a dent in that debt. The recession is getting deeper for the immediate future and worldwise oil will be under pricing pressure. Hope dilution is only a one-day drop. At least distribution is assured for a bit longer. JMHO.

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PWE
7.73-0.12(-1.53%)Jul 31 4:02 PMEDT

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