bir vs toubir is an interesting company.
the profile is very similar to tou. bir is somewhat smaller.
but similar cost structures, and liquids cuts.
tou has some incredible assets in BC
they both have large assets in the PRA
i see them valued very similarly by the market.
they both sell "black gold"
bir is cheaper to me on some reserve metrics.
tou has a higher percentage of liquids/Proved Reserves
tou has a better balance sheet
tou seems to be growing their oil ngl and condensates at a faster rate.
I think tou management is the best in the business.
they both pay dividends.
but tou publishes a detailed 5 year plan that tells you exactly what to expect.
and I don't see any forward guidance from bir. not even for 2019
given the quality of tou, the history of value creation by tou management
the similar valuations, and the detailed forward plan in place at tou.
it would be hard for me to commit capital to bir when tou essentially is
available at a similar valution.
best of luck to all!