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КОрпорация Кодиак Ойл & Газ Message Board

  • lexpress56 lexpress56 Jan 11, 2013 10:57 AM Flag

    Hopefully, these notes cover all of 2013

    Kog expanded the notes offering to $350 million. PR says plan is to knock down 1st lien facility to $1.6m. I dont know borrowings on facility since third quarter financials, but 3Q SEC filing has credit facility at $115m. So $113m plus interim spending on facility during $Q goes to paying off facility. Assuming credit facility is as high as $150, that means $230m down to $200m from notes offering is left over for Capex and -- knock on wood -- remaining 2013 capex can be funded by Cash Flow. Operational CF was $78m in 3rd Qtr 2012 and with growing volumes, I trust this figure will average $100m per quarter this coming year. Sound reasonable?