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CXPO - Crimson Petroleum


Packer16
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This is an oil and gas company who is transitioning to a more oily mix like SD but with less debt.  It expects to have a 50/50 mix by next year.  It's PV-10 NAV is around $2.71 with a P&P NAV of $11 to $21.  It current price is $3.20.  The stock has alot of ownership from Oaktree with two or three board seats.  If nat gas prices increase there is some additional upside.  They also sell at a modest EV/EBITDA.  Any thoughts on this name from our O&G folks?  Thx.

 

Packer

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