6 thoughts on “$1000!”

  1. I saw it go over 1K too. Pretty nice purchase and ride when you bought a bunch around $11/share and held on. Getting close to retirement and time to fully get out.

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  2. Heck yea….drill baby drill and frac baby frac.

    Can we get a small bottle of the holy water at the annual shareholders meeting.

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  3. Nice milestone. I’m newer to this than many folks here. The way this has gone for me so far after buying in the $400s has been 99% luck. I give management close to zero credit. I get the perspective of many who wish the conversion never happened.

    Ignore the stupidity and nonsense for a second. Put yourself in their shoes right now. The stock trades at ~50x P/E. We can buy adjacent acreage at ~8-10x P/E at current strip prices. We’re clearly the best buyer. When we do some ~$300mm bolt on deal with ~$30mm of FCF, the market’s valuing that at ~$1.5B inside TPL. Again, I give management close to zero credit. It doesn’t take a genius to know the good assets and do that math. But that’s the sort of flywheel you see at serial acquirers with cult followings.

    Why wouldn’t we want management roll up every good asset in the Permian at these prices? So why not do as much of that as possible?

    Thoughts?

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  4. I finally realized why Murray Stahl has been buying a share a day before the split and 3 shares a day after, he is Dollar Cost Averaging into the position. Hurrah for him, smarter than the average type bear!

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  5. Appears the market likes the acquisition strategy. Many uneducated oil and gas people have hated that idea for years- “Let’s go back to 8 people on typewriters…”

    Great job to management on getting us here. Keep buying core assets.

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