Entrada...I have talked alot about it but I have never done the obvious...I ran it's Oct production.
I have have them at 1400 barrels of oil per day. 1500 BOE of NG and 600 NGL's for a total of 3500 BOE.
Lower then I thought. Covid was really hard on them.
Non flush I have them at about 2800 BOE.
Be a neat company to buy as only around 90 wells. Be low reclaimation...Willy is that way...isnt much non poducing in Willy.
Entrada is for sure worth way lower then 100M...
70M is probably good ballpark estimate.
They used to be a 5400 BOE company. They are going to find it very hard being so small.
They can afford to drill the 20-30 wells per year that are really needed to grow.
I wonder if OBE offering 10M shares at 4.75 plus borrowing 40M would get it done...could we even borrow another 40M if getting good assets....