DETNF - Aker BP: Another Johan Sverdrup Oilfield Beneficiary
Investment thesis
In my judgement, Aker BP ASA (OTCPK: OTCPK:DETNF), an independent Norwegian E&P company, is undervalued by approximately 19%. Recuperating oil prices, abundant oil fields, production growth with a CAGR of 18% in 2018-2020 and betting on digitalisation of E&P business provide strong fundamentals and fortify the upside potential.
Introduction
In the wake of falling crude oil prices, Norwegian oil industry faced reframing. Some oil front-runners postponed their projects in the North Sea attempting to rebalance their portfolios and shift their strategic focus. Thus, substantial developed and undeveloped stakes were sold to the