nkp007 Posted September 11, 2018 Share Posted September 11, 2018 You're right. I think they have to sell. Link to comment Share on other sites More sharing options...
Williams406 Posted October 22, 2018 Share Posted October 22, 2018 I'm not familiar with Kimmeridge Energy, but they published a June 2018 missive calling for smaller Permian players to scale up using zero-premium mergers: "Zero-Premium Mergers: A Proposal for Public E&Ps" http://www.kimmeridgeenergy.com/research/ Kimmeridge just went activist on Resolute Energy, another Goff energy holding. Link to comment Share on other sites More sharing options...
Williams406 Posted September 13, 2019 Share Posted September 13, 2019 Big capital raise, new credit facility, acquisition: http://ir.contango.com/news-releases/news-release-details/contango-oil-and-gas-company-announces Link to comment Share on other sites More sharing options...
Pondside47 Posted September 13, 2019 Share Posted September 13, 2019 Lack of investor communication and the fact Goff hasn't bought any common in 2019 makes me feel like he's not on the same team. This whole thing feels like TOO. Link to comment Share on other sites More sharing options...
Williams406 Posted December 20, 2019 Share Posted December 20, 2019 New presentation from Contango: Re-partnering with Juneau Exploration and another equity raise. http://ir.contango.com/events-presentations Link to comment Share on other sites More sharing options...
Williams406 Posted June 8, 2021 Share Posted June 8, 2021 (edited) MCF combining with KKR energy sub. Goff on call: "Adds a zero to deals we can do." https://contango.com/ Edited June 8, 2021 by Williams406 Link to comment Share on other sites More sharing options...
decko Posted June 8, 2021 Share Posted June 8, 2021 Do you like the valuation here? or is this just another small energy play that never pans out... Link to comment Share on other sites More sharing options...
Williams406 Posted June 9, 2021 Share Posted June 9, 2021 12 hours ago, decko said: Do you like the valuation here? or is this just another small energy play that never pans out... First, MCF is now a part of an enterprise that isn't that small anymore. I don't know enough about Independence's asset base yet to answer the valuation question. I see some things in common with INDT here post merger in that the combined company will have a lower cost of capital than MCF did, and scale it did not have. If this becomes KKR's main energy investment vehicle, it will be able to swing pretty big in a field where I suspect there are some big swings over the next few years. Link to comment Share on other sites More sharing options...
rosemontseneca Posted June 9, 2021 Share Posted June 9, 2021 (edited) The KKR management agreement is very KKR friendly. $53mm per year management fee plus 1.5% of all equity raised plus 2% of equity in incentives annually. I think this company is uninvestable for that reason alone, plus I think the assets are uninteresting. It's a mix of Tier 2 shale assets (from KKR) plus overvalued producing assets (from MCF) with subpar development / reinvestment prospects. And if you want an income play with commodity leverage, there are better options out there. Edited June 9, 2021 by rosemontseneca Link to comment Share on other sites More sharing options...
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