Monday, June 4, 2012, 9:06 AM
Forestar (FOR) agrees to acquire Credo Petroleum (CRED) for $14.50/share, or ~$146M. The deal would provide FOR with "meaningful" ownership and operations in several strategic oil and gas formations including the Bakken and Three Forks. CRED +22.8% premarket.
Comment![Energy, M&A, On the Move]
Michael Bryant American oil buyouts may be on the rise with the recent buyout Credo Petroleum (CRED). Waiting to see if Kodiak Oil (KOG) will be bought.
Alex B. Gray Credo Petroleum CRED pops nearly 28% on news of third consecutive high rate Bakken discovery.
1/11/11
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Oil and Gas Investments Bulletin why Moodys warn about European debt whenever oil nears $90/bbl? And thanx Moodys for warning us about the 2008 credit crash-STREET CRED ZERO
12/15/10
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candlestickpicks $CRED completed a Break Out candlestick pattern on 11/29/2010. Look for an upward price movement on 11/30/2010
11/29/10
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Michael Bryant Only thing is that Credo Petroleum (CRED) has an Enterprise Value/EBITDA of 8.9. Kodiak Oil (KOG) has an Enterprise Value/EBITDA of 28.
6/4/12
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Michael Bryant: I don't own KOG, but I am considering it. In general, until Europe gets better, I am not very bullish on oil companies.