Watch out, Brett. You're in danger of providing FACTS which are NOT ALLOWED here. Only fantasies, wet dreams, hopes, desires and new cheerleading songs are allowed. After all, Spindopey says that mangement is commited to the dividend, just like they have been for the last 6 years. He must be right. I mean, they wouldn't LIE would they? Of course not. Those other div cuts were done by their evil twin brothers, not them. Oil is correcting back to its lower range now, and PWE will lose more money this quarter. Dividend will need to be cut soon. How many dividends have they lost since January 2? Almost 4. Yep, great investment here. These cheerleaders sure can pick'em..
The comment made during the conferences were that they were committed to the dividend and that they had many levers to pull before cutting it. They believe they owed it investors holding the stock through the price declines to keep the dividend until transportation issues were resolved and the price of the stock moved back up. After that I believe they stated they would reevaluate the dividend. A possible dividend cut would be a possibility in the second half of the year if oil prices collapsed or their capital efficiency efforts were not successful.