Let's be adults here...on BNE and OBEThis is the reality..a very important thing to OBE management team in evualating any potential asset is the amount of remaining drillable locations at a 65 and 2 dollar price enviroment.
This is another reality...don't you thnk Ipo or BNE or Enterada arr drilling their best locations at low commodity prices right now? This is why OBE is drivers seat and can wait.
Unless IPO or BNE or Entrada buy more land and expand their footprint...do you really think this number is increasing.
But alot of value in mergers in this price enviroment will be based on good undrilled locations a company has at low prices.
SOMEBODY needs to prove to me BNE has alot of these. I want to see this because if you cant, then you are not asking the right questions.
Baytex actually signalled oil was going to go under 75 when they bought ranger oil as one of rangers assets strengths is such a low break even price for oil to be ecoomically drilled.
If oil ever hit 60 bucks, BTE best clearwater and ranger stuff that get drilled and other rigs get dropped.