RE:Risk of ownershipI have to side some with MM. WTI was $79 on March 4 and Kelt reached $6.21. Its now $6.06 while WTI is $83. CNQ reached $97.80 on March 4, its now $103.33. On that basis, Kelt should be $6.52.
According to Kelt, a 10% increase in Oil and NGLs (which unlike oil don't actually move with WTI at all short term but in any event doesn't matter much) price will result in $30MM additional cashflow. We are +15% so ipso facto, $45MM. I have it a bit higher ($54MM), probably a case that I understate royalties (I use a fixed % but as we know, its not),and Kelt being conservative.
That $50MM of additional cashflow is right to the bottom line @ 25% = $200MM or $1 per share. Kelt is up $0.39 YTD. $0.59 more = $6.65.
So yeah, for whatever reason, Kelt is not up this month. Those of us holding Kelt are not FOMO, we are MO this past month.