kpax,I have made a number of posts which analyse the deal from...

kpax,

I have made a number of posts which analyse the deal from an ADV perspective and it really is not particularly rosy. Sadly some did not like the reality exposed, largely because they failed to understand the simple market mechanics and preferred to believe that the new BoD of ADV could work miracles.

I think there are very hard times ahead for the sector as a whole and the weaklings will not survive and only the very best will thrive. Back in the $100+ days money was thrown at just about any project - US shale. Since then the investment market that provides the capital has become more risk adverse. COVID has accelerated that trend. All these trends go in cycles and this one will reverse some day, but not for a while yet.

In troubled times people go for safe havens like gold, which is doing very well and is here I currently have a lot of exposure. That will change but not for a while yet. When it does that might be the time to get back into oil. However you still need to pick the right ones and those that have maintained cash generative production through the tough times will be the ones to go for. May be by then CVN will be one of those cash generative producers, may be not.