Monday, March 9, 2015

Whiting up for sale?

Whiting is up 10% this morning and I just bought a chunk at 37.55. This is the first purchase I have made in energy since last September.

Bloomberg and WSJ are both reporting that it is up for sale.  The price is right, trading at under $10 per barrel on a P1 basis.  There are deepwater projects that have recently been approved on a $20 per estimated recoverable barrel basis.  Statoil and Exxon are logical buyers since they have plenty of firepower and are already heavily involved in the Bakken.  PE is also a possibility since there has been lots of fundraising activity recently.

No comments:

Post a Comment