Birchcliff Energy Ltd T.BIR

Bonavista, then Crew, is Birchcliff next?

[Boilcapper]

I'm not the first one to ask this question and I'm sure that I won't be the last.  
It's not uncommon for investors to want to try to predict the next buyout target.  Who doesn't want to be able to predict the future.  We are all acutely aware of Tourmaline's recent aquisition of Bonavist and Crew.  I like many would LOVE to be holding shares of a quality Canadian O&G when Tourmaline makes their next announcement. 
Based on a simple reading of Tourmaline's August 2024 Corporate Presentation, they have made it clear that they intend to grow:

“The Company plans to sequence the timing of major capital projects, and associated volume growth, with improving commodity markets and will continue to prioritize total shareholder returns. Tourmaline believes this is an opportune time for consolidating natural gas assets prior to imminent major growth in the North American LNG business and acceleration of natural gas-powered electrical generation requirements across the continent.”

A closer look at just one metric, Price/Book reveals that Crew was a bargain shortly prior to the buyout announcement. Just weeks prior, the P/B stood somewhere around .46. That number seems unusually low, but it may lend some insight into the value that Crew represented. Yes, it's just one metric, but it's certainly one that should not be ignored. 

 

[barneyj44]

Whitecap could also be on the hunt for more Natural gas diversification.  They hold the second largest Montney and Duvernay  acreage at 700,000 acres. It's been awhile since Grant has done a deal. Lol