Sweet 16 Valuation Updates - April 3

[dan_s]

Today I was able to update four Sweet 16 valuations. Here are my new valuations, based on my updated oil & gas price deck.
You can download the updated forecast models from the EPG website. Log on and click on the Sweet 16 tab.

Diamondback Energy (FANG) increased by $13.00 to $213.00

Matador Resources (MTDR) increased by $1.50 to $86.50

Permian Resources (PR) increased by $1.00 to $22.50

Talos Energy (TALO) reduced by $2.50 to $20.50. < I found an error in the forecast model. I was not using the increased share count due to the QuarterNorth Energy Acquisition that closed on March 4, 2024. Talos is going to report big production increases from Q4 to Q1 and from Q1 to Q2. I do have a big cushion in the 3rd quarter for hurricane risk and my valuation multiple is just 3.5 X annualized operating CFPS.

My goal is to update all of the Sweet 16 valuation this week.