If merger goes through;
Combined number of outstanding shares = 303,120,000 (with 1.25 lnco shares per BRY share)
Combined DCF = $297,800,000
DCF per share = $0.9824
Coverage ratio = 1.355
Am I missing something here ? These number come right off quarterly statements issued in last few days.
How did you determine the combined DCF? To do this you have to breakout maintenance vs. growth capital for Bry. After full capex, Bry has had negative cash flow.