RE:RE:M&A Activity Heating UP
I agree except for the price part. At $15 usd, OBE is at a $1.2B mkt cap. OBE is worth much more than that, especially now owning its PROP assets 100%. Clearwater is the talk of the town in the canadian oil industry. Riverbend is offering its assets for $2B usd for 28,000 bod and its land is probably not as profitable. North Dakota doesn't sound so appealing. OBE is already at 33,000 bod and growing. It can repay all its debt in 2023 with its fcf if no cap expenditures if wti stays above $80. Plus, OBE has tax loses to cover 10yrs of profits.