RE:RE:RE:Big day for OBE...Sell off does seem overdone in OBE.
OBE seems to be pivoting to a company that needs a higher oil price but if they get that nice oil price in 2023...they rock and roll. Prop requires higher oil prices with hevay oil discount.
They must have a long term strategy with Peace River land buys. Maybe they will try split company into two in future. Prop is easiest way to get production growth fast.
TheRexmember wrote: The OBE drop seems over done no?
I sold that one after their Q2 drilling news because they seemed to be heading in 5 directions at once. They do have an awesome land position across a bunch of plays so it is bizarre that they are spending on more acreage q after q.
I would think they should be focussing on selling off some non core assets. With more focus on Prop and cardium