This article does a good job comparing KOG to PetroBakken
http://seekingalpha.com/article/735731- ... urce=yahoo
Let me add that KOG does have much more valuable leasehold in the Bakken Shale. However, PetroBakken has a very nice position in the Cardium up in Canada. The economic on the Cardium wells is much better than a typical Bakken well.
PetroBakken also pays a very nice and secure dividend.
KOG and PetroBakken
KOG and PetroBakken
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
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prince_jake_33
- Posts: 242
- Joined: Mon Apr 26, 2010 2:21 pm
Re: KOG and PetroBakken
W. Brett Wilson, a director of PetroBakken Energy Ltd. (TSX: T.PBN, Stock Forum), has recently been in the market, buying a big chunk of shares.
According to recent insider filings, since May 18, Wilson has purchased in the public market $1,124,769 worth of PBN stock (100,000 shares at an average cost of $11.25), writes Canaccord Wealth Management in its Morning Coffee newsletter.
Since Wilson's appointment to PBN's board or directors in December, 2011, he has purchased nearly $3.7 million worth of stock (250,000 shares at an average cost of $14.80).
At the time of his appointment, PetroBakken said it was confident that his 25 plus years of investment banking experience will be a valuable addition to the company’s ongoing strategic direction and corporate governance team.
Trading at $12.35 this week, PetroBakken has a market cap of $2.32 billion, based on 188 million shares outstanding. The 52-week range is $18.28 and $6.05.
Wilson has more than 25 years of investment banking experience, primarily as co-founder of FirstEnergy Capital. Shortly after Wilson arrived at PBN, the company's fortunes turned, its debt concerns fell away and the company is back in the good books with analysts.
Many say Wilson has the Midas touch. At the time of his appointment, PetroBakken said it was confident that he will be a valuable addition to the company’s ongoing strategic direction and corporate governance team at PetroBakken.
Earlier this month, PBN released its Q1/12 results with production averaging 46,722 BOE/d (86% liquids), with associated CFPS, f.d. of $0.95.
Canaccord Genuity Oil & Gas analyst Brian Kristjansen had been forecasting production of 46,585 BOE/d with CFPS of $1.03; Bloomberg consensus had $1.01.
Higher-than-expected operating expenses of $12.61 per BOE (versus Kristjansen's $11.00 per BOE estimate) was the greatest cash flow variance from Canaccord Genuity estimates, with the increase attributed to cost inflation in the Cardium and additional trucking caused by facility constraints.
These constraints are forecast to be alleviated in Q2/Q3 and, as such, are not expected to materially impact Kristjansen's 2013 estimates.
Financing charges related to the company’s balance sheet restructuring also impacted cash flow, but were mitigated by better oil price realizations.
April production is estimated to be 40,500 BOE/d, with an additional 2,300 BOE/d shut-in due to road bans that are limiting lease access and well servicing.
The company also has 24 net wells that are drilled and either awaiting completion or tie-in. PBN reiterated its $875 million capital spending plans and 52,000 to 56,000 BOE/d exit guidance.
Kristjansen believes the next major catalyst for the company could be Q2/Q3 outperformance due to mild spring break-up in Southeast Saskatchewan.
While there are still several months of potentially rainy weather ahead, conditions to date have been exceptionally dry.
Kristjansen also sees the potential sale/spin-out of the 59% of the company’s shares that are owned by PetroBank Energy & Resources Ltd. (TSX: T.PBG, Stock Forum) by year-end being another positive catalyst, owing to the material
According to recent insider filings, since May 18, Wilson has purchased in the public market $1,124,769 worth of PBN stock (100,000 shares at an average cost of $11.25), writes Canaccord Wealth Management in its Morning Coffee newsletter.
Since Wilson's appointment to PBN's board or directors in December, 2011, he has purchased nearly $3.7 million worth of stock (250,000 shares at an average cost of $14.80).
At the time of his appointment, PetroBakken said it was confident that his 25 plus years of investment banking experience will be a valuable addition to the company’s ongoing strategic direction and corporate governance team.
Trading at $12.35 this week, PetroBakken has a market cap of $2.32 billion, based on 188 million shares outstanding. The 52-week range is $18.28 and $6.05.
Wilson has more than 25 years of investment banking experience, primarily as co-founder of FirstEnergy Capital. Shortly after Wilson arrived at PBN, the company's fortunes turned, its debt concerns fell away and the company is back in the good books with analysts.
Many say Wilson has the Midas touch. At the time of his appointment, PetroBakken said it was confident that he will be a valuable addition to the company’s ongoing strategic direction and corporate governance team at PetroBakken.
Earlier this month, PBN released its Q1/12 results with production averaging 46,722 BOE/d (86% liquids), with associated CFPS, f.d. of $0.95.
Canaccord Genuity Oil & Gas analyst Brian Kristjansen had been forecasting production of 46,585 BOE/d with CFPS of $1.03; Bloomberg consensus had $1.01.
Higher-than-expected operating expenses of $12.61 per BOE (versus Kristjansen's $11.00 per BOE estimate) was the greatest cash flow variance from Canaccord Genuity estimates, with the increase attributed to cost inflation in the Cardium and additional trucking caused by facility constraints.
These constraints are forecast to be alleviated in Q2/Q3 and, as such, are not expected to materially impact Kristjansen's 2013 estimates.
Financing charges related to the company’s balance sheet restructuring also impacted cash flow, but were mitigated by better oil price realizations.
April production is estimated to be 40,500 BOE/d, with an additional 2,300 BOE/d shut-in due to road bans that are limiting lease access and well servicing.
The company also has 24 net wells that are drilled and either awaiting completion or tie-in. PBN reiterated its $875 million capital spending plans and 52,000 to 56,000 BOE/d exit guidance.
Kristjansen believes the next major catalyst for the company could be Q2/Q3 outperformance due to mild spring break-up in Southeast Saskatchewan.
While there are still several months of potentially rainy weather ahead, conditions to date have been exceptionally dry.
Kristjansen also sees the potential sale/spin-out of the 59% of the company’s shares that are owned by PetroBank Energy & Resources Ltd. (TSX: T.PBG, Stock Forum) by year-end being another positive catalyst, owing to the material