Why would they want to be buying undeveloped assets at the peak...

Why would they want to be buying undeveloped assets at the peak of the oil cycle at probably inflated amounts.
If the assets were any good wouldnt some other company already be snapping them up.
Arent they better off developing the assets they already have bought at cheaper value.
I cant believe management would make such a stupid move just as they are starting get some decent cash flow to pay down debt levels.
Like to hear confirmation of this rumour.