NVA has not been revalued yet!
NVA has A+ management, Jonathan is a star, and they managed through a near death experience, and did not destroy the company in the process.
Essentially NVA could easily be debt free and they have in their sights 100K boe/day and feel they have the resource and the facilities to get there with some debottlenecking.
NVA also has not comitted to paying a dividend, either have they issued a boat load of shares, they are currently buying shares back. Their current debt is at a reasonable rate and really only have a small amount of debt.
NVA is one of the few 100% Montney companies, and when you look at their presentation their resouce is very understated. Clearly the reason POU bought into NVA was because their was assets there that they wanted to get their hands on. POU wanted the Wapiti assets buy NVA would not let them go, so i see a lot of additional upside in NVA in Wapiti.
NVA has never had a quarter with 82,000 boe/day of production before, they should be one of their best quarters in history. The should open the industry eyes to what is happeining at NVA.
NVA may take some time to get fully valued, and now the cash flow is going to accelerate significantly.
Many of the infastructure companies have attacted a lot of capital in the past, but with higher interest rates and a lot of their debt being repriced, Infastructure companies with not get the same returns on their investment in the future, and when compared to companies that are debt free, unhedge companies, producing with fantastic economic in a low Canadian dollar Enviroment. NVA and all oil and gas should be rerated.
NVA has 165 million left on it note, and with 480 million undrawn facility, and 300 million accordian.
I think with its balance sheet, resouce, and management, i would not be surprized to see NVA make a Montney Acquisition. Kelt has the assets but they will not be cheap and they currentlly lack the facilities to ramp the project up.
However i am sure NVA can find bolt on's to their existing projects.
NVA will accelerate in value very quickly from here, and it very nimble and have proved they have operational excellence.
IMHO