Future of the Cardium....I think Petrus,Yangarra, and Spartan combining and forming a super Cardium company makes so much sense on so many levels...forming super companies in plays is the trend....look at todays monteney news:
Spartan brings 30000 BOE a day, FCF cashflow with no debt - Financial Muscle
Yangarra brings operational expertise (doing own services in house), and future drilling locations
Petrus - well they have no really leverage for a high takeover premium as they are so broke and thier land fits.
These three combined would be close to 50K BOE. The is the size of the future in the patch.
You can insert other names....but I think some super cardium company will form. OBE is tryingn to do it on other side of cardium with BNE.
I think one stumbling block on any potential deals is the recent rise in commodity prices. Yangarra shouldnt have any incentive to merge with anyone as long as Covid is at bay and old prices hold decent.
I would want at least a 2 YGR for a 1 spartan delta an any scenario and hopefully more.
Time will tell.
But who thinks the cardium will remain all these little players....not me