RE:Price paid makes obvious how undervalued Spartans 50k boe/dAnd production will be growing, FCF increasing with current commodity pricing, and still FCF positive outside of acquisitions. I think it's interesting they're going big into NW AB now while harvesting cashflow from the BXE asset.
Velvet was capital constrained but not on the ropes like Cequence, Inception, or TKO'd like BXE.
The increase in scale (from the top of my head, this more than doubles the EV, right? Something like $550M to $1.2B), graduation to the TSX and an increasing liquids weighting and netback/BOE are all...fascinating. Glad I own it and will add on any weakness tomorrow.