RE:Oil up almost 2%BTE has 3 times the oil production of ATH (plus the NGL & Nat Gas).
It has torque to do well with high oil prices (and even better if NG prices move higher as well).
The balance sheet ($2.5B debt) comes more into focus when lower oil prices could make things difficult..
ATH right now, is a more conservative play. The $185M capex for 2024 maintains production.
Lots of FCF to come from that if oil price even holds just here.
Some growth looks like its going to come over time from the JV (production expected to double by 2025) and some more from Hangingstone in 2025.
I think it is best suited up for a sale for 2025. With the clean balance sheet, the 1B+ bls reserves, the low royalty structure, the $2.8B in tax pools, etc.
If it comes to that, they could buy out the minority Duvernay stake from CVE and spin that out to ATH shareholders as part of a potential sale.
Just my opinion, pure speculation.
Jimmy1page wrote: Look at Baytex. We have a much better balance sheet and one analyst is able to stop our rush dead?? . That's nuts.