This is a sleeper. Lifitng & proc cost is c. US$40/bbl. Oil price margin increase in last 4 weeks is c. US$20/bbl, Hedges roll-off accelerating (ask CEO for an update, just). Expect a material rerate of SP. On Lfwd-EBITA based on 4kbbl/d production, c. 16c at US$90 WTI.
Ann: Brooks Drilling & Operations Update, page-17
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