Post by
Helloworld on Dec 05, 2024 10:57am
TVE Valued at $50k/barrel
OBE sitting around 25k.
TVE has a EV of 3.25 billion.
TVE just released a budget that focuses on fcf generation (300 million fcf at 70 wti).
At 70 wti and stay flat at 40k OBE would generate ~ 450 million in FFO.
What is stay flat capex at 40k? Maybe 275 million?
Release a budget showing 175 million fcf at $70 wti.
At 10x fcf @$70 that would mean a EV of 1.75 billion and share price of $18 (at lower multiple than TVE currently trading).
Obviously cannot be mispriced this bad so what is missing?