RE:RE:RE:RE:RE:RE:RE:Relative values OBE vs YGR
I'm just stating my opinion. My research / analysis. Different opinions is what makes a market. I didn't pull punches because I think you guys know I respect ya and want my full veiw. ... if you can show me an average deployed capital at a good rate (not just x wells but the businesses average) sure I'd take a look. But as for your argument ... decline and capex on new wells are hand in hand. If you had zero decline you'd need zero new wells therefor FCF would be most of FFO. Example is meg or ath I can't remember but they had $8 per boe . So as price rises It's all fcf. I'll have some time later I wana calculate 2021 rates and 2020 ... I have a hunch there all close to $24 /boe and it's not the 20% growth making it massive. Also I'll do OBE and add PROP as it's a form of growth capex. But I'll have to remove aro that I included in the $14/boe ... bte ran $15/boe I think last time I calculated it. So we have a amazing corporate average. I'll do IPO just because it's also Cardium might be tm tho as I'm bust for a while tn. As we all know we should do our own homework but sharing is building your own thesis.