My opinion is that they were too gassy. nearly all their production was natural gas. the acquisition last fall, off the California coast helped then get some oil.
Ng prices are weak...oil is much stronger.
That about sums it up in my opinion.
Many E&Ps are trying to do the same thing. We will see which ones can do it successfully.
We have a group of investors at the Yah00 site gr0ups
where we talk about theses type companies. If anyone wants to join. Most of us seem to be a 50's-60s in age.