Davy Bui

Penn West Energy's Reassuring Earnings Update

Quick point for folks so people aren't confused by some of these comments.

The standardized distributable cash payout ratio is defined by the company, not me, as cash distributions declared divided by standardized distributable cash (aka free cash flow). The number you want is less than 1. Anything over one, by definition, means the company is declaring more in cash distributions than they can generate after capital spend. The commenter above is completely wrong.