You had one job. Tell me how the whole company is finding out about the Upcoming sale and who is buying it and what the agreed value is through seeking alpha and Forbes and not from our own company. You can go ahead and wipe that open communication and transparency off our core values list. We all suspected that core values was a pile of sheet, and this just confirmed it.
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The issue with selling assets that people don't fully appreciate is that you need to sell them for at least 4x the EBITDA they generate. Otherwise you actually are increasing your leverage metrics and making the situation with the banks even worse. That's been the biggest struggle that makes it an almost impossible situation. There have been buyers out there, but they aren't willing to pay the price that the company needs them to pay so that the situation doesn't become worse.
Seriously, what does he do besides the talk show?
Yes, I think that’s the right approach. But don’t stop at Haynesville, go ahead and sell Rockies and Midcon as well. Pay off debt and maximize value of STX/Brazos and App North assets.
If JJ pays $1 billion for Haynesville, will Doug put all of it toward debt? If not, then the sale would be a bust. Sometimes talking a good game only works when you play an outstanding game. Putting the whole amount toward debt and all of the recent layoffs may bait the hook for some big investors hoping to push up the stock above a buck or a coffee at McDonalds.
He’s a good dude. Do they have intramural lacrosse on campus? Thinking of transitioning to OKC.
Oh please, baby Jeebus, make this happen!