I did my DD and backed up the truck at 10.06 and am feeling pretty good about myself. Current cash flow is $50 million a quarter so I think they can easily handle the debt. And more likely, they will be acquired before the debt is due anyway.
I confess to being a former stockholder who took a nice profit so I get back into a comfortable positions. The story keeps getting better.
Good luck zman. I hope you get a Gulf hurricane soon, and a cold winter.
BTW, did you see the natural gas inventory report? Storage went up 45 BCF, more than expected. The natural gas inventory now sits at an all time high for this period. The market is not even close to recognizing we have an over-supply, after years of price jitters. One analyst expects a hurricane free summer to pressure prices below $5/MCF.