RE:BTE compared to WCP Eric is full of BSHey PPP, I own both WCP and BTE. I agree WCP is a great buy, which is why I own it as a long term investment.
When looking at BTE you need to take a hard look at hedging and and the Clearwater. Hedging in 2023 is much better: 20% as opposed to 40%, and $96 sold call as oppsed to $68. Clearwater is just an incredible area to be invested in. Some - not all - of the wells have paid back literally in a month and BTE has 9 of the top 10 wells drilled.
I am not selling my WCP it is a fantastic long-term investment, XTO will pay off big. BTE is also a great buy and I will not be surprised for it to be my best returning O&G over the next 18 months.
Best of luck with your investments.
ppp wrote: So BTE is the number 1 pick for EN, Here is why WCP is a better buy.
Based on Q2 numbers
1 EV per flowing Q2 BTE debt was 1.123 bil, MC 3.564 EV 4.687 bil ,production 83.090 works out to 56,000 per flowing. CFper share 63 cents.
2 WCP debt was 674 mil MC 5.753 bil EV value 6.427 bil production 132,293 price per flowing 48,000 CF per share 1.08
So why would one buy BTE over WCP. The thing If you run the proforma numbers on XTO for WCP and compare them to BTE, WCP blows BTE out of the water.
So EN, Why would I buy a company that has much less CF per share and trades for more money per flowing.