Thanks Brobel, great post.
I've been wondering about the economics of the gas market and how the old rule of thumb of $1/Gj stacks up in the current market. (I'm not sure if I have the terminology right but 1Tcf would equate to $1b).
Now, Misui did their deal a few years back at $1.20 and my understanding is that it's now more like $2 (prob more with the int'l market a lot 'hotter', it may not last as you suggest).
But, at a more conservative $2 = $2b / Tcf means that if WE reserves come in at say 800Bcf = $1.6b of market value = $864m market share for STX and $736m for WGO......meaning potential upside of 64% at 800bcf for STX (ignoring any other asset values like SE, Haber, Geo, other tenancies, etc... and SE and Haber could both leave WE in the shade in terms of value) and 200%+ for WGO
The 'problem' I have here are the numbers look too good to be true - and the market is so far away from value...I am wondering if my back of the envelope figures are wrong.
Appreciate anyone's thoughts on value and / or the 'old rule of thumb'.
Thanks and have a great weekend.
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Last
28.0¢ |
Change
0.030(12.0%) |
Mkt cap ! $801.0M |
Open | High | Low | Value | Volume |
24.5¢ | 28.3¢ | 24.5¢ | $7.221M | 26.82M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 293004 | 27.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
28.0¢ | 820079 | 16 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 80250 | 0.275 |
14 | 1138369 | 0.270 |
5 | 465632 | 0.265 |
12 | 320576 | 0.260 |
3 | 252621 | 0.255 |
Price($) | Vol. | No. |
---|---|---|
0.280 | 482958 | 11 |
0.285 | 933593 | 12 |
0.290 | 299158 | 9 |
0.295 | 279001 | 7 |
0.300 | 1053232 | 15 |
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