BRY reports good and says "Hey I'm worth more...now bump up the offer!"
LINE reports good and says "Hey me too...so lets keep it the same!"
Both needing to show the goods since so much time has passed.
Just a thought anyways. And yes I know Line could report bad, mediocre or good.
I was thinking the same thing. Thanks for putting it out there. I suspect that Line's numbers this quarter, given their acquisition, the big increase in oil prices and their expressed production increases in existing fields will lead to a great quarter. BRY's numbers were good but Line's may well be even better. As I've said before, a big acquisition like BRY, given we are now seeing declines in oil prices, may not be the way to go as these decling prices play back into the value of assets in a way that may not favor stock exchange purchases.
Linn's acquisition won't affect 3rd quarter numbers since it wasn't scheduled to be closed until the 4th. Big oil prices won't help either as Linn is 100% hedged at a fixed price for all their current production well below those prices.