More BIR vs SDE ComparisonsFor the record I don't hate anyone including ARF, ARF, don't have time not sitting around waiting for the ship to come in like some here, I choose to make money when opportunity presents itself, just like I am doing with a partial rebuy at $6.58 (15K) of BIR. short term $9 target achieved as I posted earlier more than once, consideration to sell now on NG spot price weakness into short shoulder season IMO.
Doesn't mean some type of a position won't be entertained again when opportunity presents itself for a 20%+ swing trade return.
As to further financial fundamental comparisons of BIR vs SDE.
SDE fully diluted EV versus flowing barrel SDE much cheaper than BIR. Roughly 30ish versus 40ish.
An SDE barrel is worth more than a BIR barrel thanks to the OIL/NG split I posted earlier for each company.
HH at $6.50 current NG price is $39 boe equivalent WTI, (duh)
Smart ones will take more oil and liquids over gas in a heartbeat given oils likely strenght going forward for sometime yet.
No diff in Opex while BIR General + Admin currently much higher than SDE, Jeff gotta get paid you know.
So cheaper per bbl, SDE bbl's more valuable with a better balance sheet than BIR FACT!.
When I first mentioned this in transition BIR was in the $6's and SDE in the $5's. For those that were paying attention and did some serious DD including understanding financial metrics you have profited quite handsomely at a far higher % return on investment than BIR and BIRhas done quite well inspite of itself and so have I and my group from it.
IMO don't be fooled with this blah blah about buybacks, unhedged B-S and a paltry and insulting div. and that's any oil/gas stock not just BIR, if your investing to make money then give your head a shake you've partially missed out on a great opportunity for far greater profits than sitting on your hands waiting.
Lastly if you don't like my posts then put me on ignore I could care less knowing the smart ones haven't and won't, cheers.