NBL
Posted: Thu Oct 29, 2015 10:00 am
NBL is one of the top candidates to move into our Sweet 16. Here is what Stifel says about Q3 results:
Reiterate Buy
The Humpback news is modestly disappointing after a partner announced that the
exploratory well encountered hydrocarbons (albeit in low-porosity sands). Our NAV
included no value for the prospect. Ramping GOM volumes with little associated
capital will provide a differentiated growth from most of NBLs peers next year as
the company spends within cash flow.
Reiterate Buy
The Humpback news is modestly disappointing after a partner announced that the
exploratory well encountered hydrocarbons (albeit in low-porosity sands). Our NAV
included no value for the prospect. Ramping GOM volumes with little associated
capital will provide a differentiated growth from most of NBLs peers next year as
the company spends within cash flow.