RE:RE:RE:RE:RE:How do we rate against - ATH, etc? Yes still in BNE. Buying more at these prices. OBE looking like a good entry point again too.
i think you have it backwards Kav. YGR has to drill hard and BNE can maintain production with much less drilling. BNE has over 7000 barrels of oil production plus gas liquids with a decline rate that is much lower than YGR. YGR has about 3000 barrels of oil the last time I looked.
it is why BNE paid off 149 million in debt last year in twelve months. Not sure if YGR managed 75 million or not? The production misses and gas weight are a problem right now.
BNE reduced ARO a lot in the last two years. Basically 10 years plus of drilling. They added 12 wells to grow exit production. Free cash flow of 100 million at 85 dollar oil is a pretty good asset base.
I agreed with a lot of what you say on ATH as par as cash flow metrics go. A tiny pop in oil prices and they generate a huge amount of cash flow. The facilities are paid for, no net debt and a few hundred thousand acres of land Partnered up with a super major. The drama is mostly behind ATH now it is mostly price risk you are fighting. The drama at YGR is quarterly. Still can't believe the share price is below 2.50 after all that short covering. I held it 5 years Kav. Now I only trade it.