Kelt may not sell that quick in my OpinionKelt says Wembley/Pipestone/La Glace is pretty well deliniated, but maybe its to soon to consider a sale, with zero balance sheet debt the same impetuous for a sale does not exist. Although from the standpoint of industry health and the fact that companies have the balance sheet, and if their focused on share buybacks today, its pretty easity to reidrect the cash to an accretative asset purchase will be, allowing the cash remains on the balance sheet.
Kelts has had some very good success with it Charlies Lake plays and these are assets the team is very familiar with, and kelt themselves is surprized with the success.
Their CF projection is very conservative, and even with the increase in oil production they did not increase their plan to much for 2023.Thier not taking on any debt.
In 2024 it looks like they will be producing between 40-50 thousand boe/day and my guess is that they will only sell if they get a fair price. The pipestone montney play is simply to big, and the pricetag will not be cheap, and companies like CNQ do not really payup for anything.
The charlie lake lands at wembley are good, and we know TVE has had a lot of success to the west of the play.
If Kelt did not state that their objective is to sell the play, i would really of expected them to develop it with all that acreage.
IMHO