TSX:HSE.PR.B - Post by User
Comment by
Olympicon Apr 21, 2017 11:52am
113 Views
Post# 26148879
RE:RE:Consolidated Ownership of Sunrise
RE:RE:Consolidated Ownership of SunriseI too was surprised by the YE details on Sunrise. Gross revenue/bbl was only $14.46 and a negative netback of -$12.50/bbl. I appreciate the metrics were negatively impacted by interuptions in production during 2016.
Nevertheless, with Sunrise's current metrics, BP's 50% interest would need to go for a substantial discount to its original investment. Frankly I struggle to see the value at the target level recently reports of $810 million.
Another concern, if BP's half interest does sell at a substantial discount what does it mean for a future write down on the value of HSE's interest?