RE:RE:RE:RE:RE:RE:Wembley is Gold - A spartan type deal may be in the CardsIn fairness they are in the same neighbourhood (cdn oil & gas). Otherwise Pipe is a 2 bedroom fixer upper on a small lot while Kelt is a 6 bedroom mansion on a lot 3X the size.
As an example, Oak. The western portion (110 sections?) where they've been delineating is a prime natural gas asset IM(amateur)O. As we know, gas players have much lower op costs than liquids rich peers but even then they need decent liquids (ie 12% @80% of WTI realization eg Peyto Q1) to do well even when natgas prices are low. If Kelt or ? can put in place a natgas cost structure - which probably neccesitates an own plant - then a play like that is strategically worth $$$ because of its 20% liquid content (Kelt has not disclosed the mix but I believe it's mostly condensate). Yet it was what, 10% of Kelt's 2022 reserves?