RE:Key Metrics of AcquisitionNice work with the numbers. Two things. The cost of the production is not the culprit it is the mix of product. Lets use current at 150 and projected at 200 boe for easy math
By my numbers they will go from 85% liquids to about 76% (hammerhead is 50/50)
The second thing is enhanced fund flows of 15% OVER THE FIVE YEAR PLAN. This is likely true at strip today who knows in five years. Where the value in the deal comes from is they now have many years of inventory to drill which was a concern prior to both recent deals.
All in I believe the discount multiple to Whitecap is unjustified and the stock should come back once the news is digested but just my opinion.