News: ELK Elk Petroleum to acquire Aneth oil field & CO2 EOR production project, page-7

I guess it depends on your view on the outlook of the future direction of oil.

There are some who believe that the end of the age of oil is upon us as evidenced by the increase in the use of renewable energy and electric cars. Those in that camp do not believe that there is much upside in the price of oil and are slowly moving away from oil and selling oil related assets. Some are simply forced to sell due to financial difficulties from over borrowing during the oil boom times.

Then there are those like Brad who obviously believe that the price of oil has bottomed and is on the verge of rising again as demand will overtake supply due to the lack of investment in the industry over the last few years.

There is of course also a possibility that Resolute knows something Elk doesn't about the Aneth oil field.

Time will tell. Hopefully they were simply forced to sell.