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Midstates Petroleum Company, Inc. Message Board

  • harehau harehau Oct 28, 2013 2:03 PM Flag

    mpo value

    Here's another value look at MPO, what can I say, I'm bored. They have a PV 10 value on proved reserves at around $2 billion, enterprise value is $2.3 billion, equity $350million. $2.3 billion EV less value of proved reserves, $300 million all equity premium for the potential in the Anadarko, Miss and Wilcox. Based on number of wells they project, each area could have a billion $ of NPV potential, so $3 billion potential for $300 million. BCEI has half the proved reserves, maybe a billion $, $2.3 billion EV. $1.3 billion excess invested in a $6 billion potential in the Niobrara. Multple, potential/ excess of value for proved reserves, MPO 10x, BCEI 4x. Admittedly, very rough. You have debt and execution risk for MPO and mostly execution risk for BCEI. Both are probably good bets, higher risk/return profile for MPO.

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    • "They have a PV 10 value on proved reserves at around $2 billion, enterprise value is $2.3 billion,"

      Heck I can match those metrics with Bankers without all the debt and with them funding capex with cash flow.

      NPV (10) 985 million

      Market Cap 974 million Debt 100 million EV 1.074 billion

      Better netbacks, longer reserve life, lower decline rates.

      I can see a trader being more interested in MPO, an investor not so much.


    • Ahhh hau, you are looking at this all wrong. MPO is fairly priced. All those others are over priced. :)

      Help Any? I didn't think so. Well, MACD turned negative and trading would normally have been for a strong down day and it was actually kinda ho hum. Really low volume is the best thing to happen on this type of a day.

      Sentiment: Buy