RE:RE:RE:Development Strategy Going Forward -Delineation doneCPG paid $1.7B for SDE's oily play; while production was 37,000 boepd, 2P was only 200MM. Still much much lower valuation than Pioneer. Exxon paid Pioneer shareholders full value for the oil. Oil market is quite predictable and efficient, big or small doesn't matter that much (thabk you OPEC). What they got is free natural gas that probably nobody can sell like they can.
Anyhoo, I feel Wembley alone could potentially be worth at least $2.6B ($13) within 2-3 years based on 300MM reserves (40% higher than now) and 55,000 boepd ( need 184 MMcf). Plus Pouce Coupe. Whether they keep or sell is a choice between dividends or capital gains in a way.
Oak otoh has and will have a big difference between what its worth to us and the market and what its worth to a major player. Kelt is simply not going to be able to market NG/LNG like a bigger player can. This is becoming evident in the US - the big (eg EQT, AR) are still growing some, "other" is shrinking fast. Why? My guess is realizations among other things.
Another Pablo narrative.