Good Afternoon,
An relevant news came out last night in regards to the activities within the O&G space in the US and thought it would be great to share with you guys.
- One of the largest O&G producer in the US, Continental Resources (NYSE:CLR), has received an all-cash buyout proposal from its largest shareholder/Chairman, Harold Hamm, which valued the Company at US$25.4B. The offer price is US$70/share, a 9% premium over CLR’s last closing price.LINK.
- Analysts believe higher bid, as much as US$95/share, will be needed to get a deal done. CLR closed at US$74.22 (+15%) or 6% above the offer price seems to support that. LINK.
- The offer price of US$75/share values CRL at US$67,975 per flowing BOE as of 1Q 2022 production rates, and US$86,103 per flowing BOE at US$95/share. Applying this valuations to BRK with an assumption of a net 2,400BOEPD post Flames Well suggest a range ofA$227M to A$287M or A$0.045 to A$0.057 on a fully diluted basis. LINK. BRK trades at A$0.015 as of writing.
- On a CY2022 forward basis, US$75/share values CRL at US$64,059 per flowing BOE. That would translate to a value of A$285M for BRK given its year-end production target of net 3,200BOEPD.
- Recall CRL is the powerhouse that has been mopping up neighboring acreage and producing assets around BRK’s assets in the SWISH AOI. CRL now holds ~57% of leasing activities in the SWISH AOI and we speculate that BRK may be on their radar.
Kind regards,
Cyprus Sia
Corporate Finance Analyst
Spark Plus Pte Ltd
+65 9648 1371
[email protected]
www.sparkplus.org
3 Shenton Way, Shenton House #23-02 Singapore 068805
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Last
1.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.27M |
Open | High | Low | Value | Volume |
1.2¢ | 1.2¢ | 1.2¢ | $37.13K | 3.094M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 648453 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 28031377 | 34 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 648453 | 0.012 |
38 | 38202199 | 0.011 |
14 | 17682918 | 0.010 |
10 | 5820014 | 0.009 |
2 | 185000 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 28031377 | 34 |
0.014 | 20994930 | 15 |
0.015 | 4949382 | 12 |
0.016 | 2516438 | 11 |
0.017 | 11626445 | 8 |
Last trade - 15.17pm 26/07/2024 (20 minute delay) ? |
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