Give us some good news and boost our production by 1/3 and a bonus dip to go with it. What a deal. I added with a 3 % discount thanks to some generous sellers on what should have been an upwards spike to the tune of about 6. Not just 161k acres but in the heart of the Baaken and Three Forks. The way I see it is since OAS is the number 5 in the Baaken space (current drilling rig count) will soon be at least 3 or 4 and giving the evil glare to CLR. I agree with Mr Market in that debt is bad but if you're buying dollar widgits for a quarter then you are wrong.
Those green k's look really good and you are right on - it was 12. But the best part is I think it is just getting started. I'm looking for breakout validation next week. If it happens, I'll be adding once again.
On the call, OAS said that they were almost cash flow neutral based on EBITDA for Q2, and they expect to get to get to cash flow neutral pretty quick on this acquisition. Sounds very ambitious, but with the 9300 boed in the acquisition, Oasis Well Services lowering well costs, and the high price of oil, it is feasible. They added some nice collars on 2k bod for the end of '13.