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Morgan Stanley on BCEI
Posted: Fri Mar 28, 2014 8:51 am
by mrmuileh
Morgan Stanley piece on BCEI out this AM (attached) expressing concerns about relatively shallow inventory of drilling locations and recent management changes.
Dan, any comments?
MrMuileh (Phil)
Re: Morgan Stanley on BCEI
Posted: Fri Mar 28, 2014 8:55 am
by mrmuileh
Sorry, apparently I am unable to attach a PDF? I posted the attachment over at Value Forum.
Re: Morgan Stanley on BCEI
Posted: Fri Mar 28, 2014 3:57 pm
by dan_s
BCEI should have 40% to 50% production growth this year. Q1 production will be just slightly higher than Q4 because of weather related delays on completions, but production will ramp up steadily after that. My FVE is $64.00/share.
My forecast model is fairly close to what First Call shows today.
Management changes are a bit of a concern to me, but not a killer. I really like Gary Grove.