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Top 10 Prime Oil Stock Takeover Candidates Source: ConocoPhillips
Over a barrel Oil stocks both small and large have been badly beaten down by weak oil prices. Because of this, many oil companies are selling for a discounted value of their proved oil reserves compared to other peers. Source: Marathon Oil
Over a barrel In many cases, it would be in an oil company’s best interest to sell itself to the highest bidder. That’s what Rosetta Resources did as it recently agreed to a sale to Noble Energy. That deal was for a 28% premium to the company’s market value, which boosted its Enterprise Value-to-Proved Reserves to $13.65 per barrel of oil equivalent, or BOE. Source: Marathon Oil
Over a barrel With that deal in mind, here’s a list of the 10 oil stocks with the lowest Enterprise Value-to-Proved Oil Reserves according to S&P Capital IQ data. These oil companies could unlock a lot of value by agreeing to a merger at a premium to the market’s value for their oil reserves. Source: ConocoPhillips
Oasis Petroleum (NYSE: OAS) Enterprise Value: $4.9 billion Proved Reserves: 272 million BOE EV-to-Proved oil reserves: $20.20/barrel EV-to-Proved reserves: $17.87/BOE Bakken-focused oil company
Whiting Petroleum (NYSE: WLL) Enterprise Value: $12.4 billion Proved Reserves: 780 million BOE EV-to-Proved oil reserves: $19.20/ barrel EV-to-Proved reserves: $15.86/BOE Rockies-focused oil company
Northern Oil & Gas (NYSEMKT: NOG) Enterprise Value: $1.3 billion Proved Reserves: 100.7 million BOE EV-to-Proved oil reserves: $14.60/barrel EV-to-Proved reserves: $12.73/BOE Bakken Shale-focused, non-operated oil company
ConocoPhillips (NYSE: COP) Enterprise Value: $100.8 billion Proved Reserves: 8.9 billion BOE EV-to-Proved oil reserves: $21.6/barrel EV-to-Proved reserves: $11.33/BOE Globally diversified energy company
Marathon Oil (NYSE: MRO) Enterprise Value: $24.4 billion Proved Reserves: 2.2 billion BOE EV-to-Proved oil reserves: $15.9/barrel EV-to-Proved reserves: $11.11/BOE Globally diversified energy company
Abraxas Petroleum (NASDAQ:AXAS) Enterprise Value: $461.8 million Proved Reserves: 42.4 million BOE EV-to-Proved oil reserves: $14.70/barrel EV-to-Proved reserves: $10.89/BOE Bakken, Eagle Ford, and Permian Basin oil company
Bill Barrett Corp (NYSE: BBG) Enterprise Value: $1.1 billion Proved Reserves: 122 million BOE EV-to-Proved oil reserves: $13.90/barrel EV-to-Proved reserves: $9.20/BOE Rockies-focused oil development company
Approach Resources (NASDAQ: AREX) Enterprise Value: $771.6 million Proved Reserves: 146 million BOE EV-to-Proved oil reserves: $14.00/barrel EV-to-Proved reserves: $5.29/BOE Permian Basin-focused shale oil company.
Denbury Resources (NYSE: DNR) Enterprise Value: $6.3 billion Proved Reserves: 1.2 billion BOE EV-to-Proved oil reserves: $17.50/barrel EV-to-Proved reserves: $5.25/BOE Enhance oil recovery specialist
California Resources (NYSE: CRC) Enterprise Value: $3.1 billion Proved Reserves: 768 million BOE EV-to-Proved oil reserves: $17.40/barrel EV-to-Proved reserves: $4.00/BOE California-focused oil and gas company
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