I’ve been watching nearly bankrupt Shalers buy other nearly bankrupt Shalers for more than 20 years.
The strategy merely forestalls the inevitable bankruptcy—but, incredibly, the strategy is the go-to strategy for Shaler Executives who are too damn d-mb to ever make a profit operating.
I wonder, what are the fees associated with the combination?
For the past 20 years, the Executives at the Shalers have made their lawyer friends stinking rich papering up their bad judgment. The poor shareholders.
Indigo had to make the deal because they were nearly out of cash, but believe me the last thing the clowns at Indigo wanted was for their power to be watered down by combining with the incompetents at SWN.
SWN is a farce!
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Indigo was privately held so there isn’t much information available
Vine Energy, another Haynesville Player, did an IPO and recently filed a 10Q showing Vine losing 100 million to 200 million a year.
I bet Indigo was losing more.