Clearwater PurchasesToday a couple of Clearwater purchases were announced that reflect well on OBE
The heavy oil discount will likely shink once the US stops its SPR releases.
Also interesting to see how the clearwater purchases were framed as low enviromental impact! No fracking (so low water use) etc.
This is what Topaz put in their NR.
"The Clearwater resource play has one of the lowest environmental footprints and provides better inflation protection among North American oil plays, attributed to pipeline connected, multi-well pad developments that do not use significant fresh water as fracture stimulation operations are not required (reducing costs and mitigating service availability risk). In addition, the multi-well pad development techniques reduce surface disturbance."
Tamarack seems to have paid about $62,000 per flowing barrel (based on average 2023 production). $1.425 billion for 23,000 boe/day (94% liquids).
OBE is forecasting about 29,000 (94% liquids), with the rest gas (37,500 boe total) for 2023
There are too many variables to convert that into an OBE share price (but it would be somewhere north of $22/share, or double today's share price)