GREY:BNPUF - Post by User
Post by
micromegaon Oct 17, 2012 2:47pm
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Post# 20494581
The recent ACQUISITION and more
The recent ACQUISITION and more It was smart for BNP to buy natural gas assets (94% nat gas) when the nat gas hit its lows recently...this is why BNP paid only 23,000 $/boepd and it writes already a gain if they decide to sell those properties tomorrow....However BNP is very gassy (64% nat gas) pro forma and if they want to buy cheap again to become more oily, they may have to buy some Bakken juniors of North Dakota BEFORE these juniors prove their land....
The recent SeekingAlpha article below points out some Bakken oil juniors
https://seekingalpha.com/article/926491-david-and-goliath-of-the-u-s-based-bakken-formation
I know it is speculative to buy them BEFORE they prove their land.....but this is the only way for BNP to buy cheap again....