Jun. 16 at 7:03 PM
$PSHIF this stock has zero coverage but its recent sale makes it an interesting investment.
They sold 2,300BOE/day for
$104 million (non-op assets) which implies their remaining operated 10,000BOE/day is trading at just half the price of the assets they sold.
I did a review of their assets and they are definitely Tier 1 in the Williston. I'd like to see them liquidate for around
$600 million. A larger operator such as Chord, Enerplus, Marathon, or Devon, could use their acreage for inventory and longer laterals.