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View Lewis Whokeyser's Comments on:
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I did a similar analysis for Apache Oil (APA).
Apr 09 07:51 am
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All Comments by Lewis Whokeyser »Raising Chesapeake Energy's Intrinsic Value Estimates [View article]
As of December 31, 2007, the company had total estimated proved reserves of 1,134 million of barrels of crude oil, condensate, and natural gas liquids, as well as 14.7 trillion cubic feet of natural gas.
Call it 100 billion worth of oil at $100/bbl.
Recent nat gas price in Feb was $7.55/Mcf. 14,700,000,000 Mcf times $7.55/Mcf = $111 billion dollars of nat gas, less pumping and shipping costs.
It looks to me like APA is a fifty-fifty oil and nat gas play. Its NAV, by my count, is 200 Billion +, and its selling at a current market cap of 40 billion.