EP - Empire Petroleum Appears Significantly Overvalued At Its Current Share Price
- Empire may be able to generate around $30 million EBITDAX at $100 WTI oil.
- It has a market cap that is currently around 14x that EBITDAX number.
- It is also currently valued at well above PDP PV-10 at the current strip, while mature, low-decline assets typically sell at a discount to PDP PV-10.
- Empire's estimated value is around $7 to $8 per share based on more typical industry multiples.
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Empire Petroleum Appears Significantly Overvalued At Its Current Share Price