RE:When Does This Become a Takeover Target When debt drops a lot further and drilling results improve. Or gas prices take off.
Typically a sale depends on another company wanting access to a new or expanded land base. Or maybe rationalize ownership and facilities. Who would pay 300 million for this stream of cash flow combined with the unpredictable wells? Stronger operators with an acquisition model like say Spartan, don't pay top dollar.
Moderating decline rates would also help.
they need to figure out their drilling, like they mentioned in their Q1 update. Maybe that is underway.
i think they need a new core area.