Read last financial report. They are borrowing money to pay the dividend. Cash flow is down because of weak gas prices. Plus they have a big capex program. They really do not need such a big dividend. The weak gas market will force them to cut. If they cut it the stock gets crushed.
• term debt • sale of equity investment portfolio • dividend reinvestment program • partial reduction of strategic land through joint venture or sale - reduce capex
I suspect that low ng prices are continuing to weigh. They have already announced the dividend program. So I'm guessing that capex will be next. Hopefully they will cut ng drilling and move some of the cost savings to additional oil. What is saving us now is high oil prices, even with hedges. They are growing oil production significantly.