PR + ESTE Merger Conference Call - Aug 21

[dan_s]

Take a few minutes to understand my proforma 2024 forecast model and then listen carefully to PR's conference call replay. They outline $175,000 in synergies (cost expenses). I may have half of that amount of savings in my model, in LOE. They expect to lower G&A expense by $30/year and also refinance debt at much lower interest rates.

https://permianres.com/investor-relations/news-events/

Lots of high-quality energy sector analysts on the CC, so we should see several updated price targets for PR this week.

PR is going to run 11 drilling rigs in the Permian Basin in 2024. They should generate steady and strong production growth. FCF can fund dividends and more stock buybacks.

[ChuckGeb]

How do you refinance debt at much lower interest rate in this environment?

[dan_s]

Upstream companies are paying off a lot of debt. Banks want PR's business, so they should give them better interest rates. They said they could refinance at better rates on the CC.

[ChuckGeb]

They better hurry.