Find and dev costs fir oil 9-12 For wet gas. 12-15 Dls currently...

Find and dev costs fir oil 9-12
For wet gas. 12-15

Dls currently trades at 10 dollars per barrel on an EV basis - even less is cash has grown .
So reserves on an F and D basis alone more valuable than entire market cap. Even cheaper if you look at a more realistic value of reserves 15 oil, 8 for wet gas for current oil environment and probably. 20 oil, 10 wet gas medium term . Used to be 30 and 15 when oil was 100. If I add in pipeline infrastructure , production facilities acreage etc DLS is cheap even when one uses the most conservative assumptions. One of the cheapest way to buy the view that oil won't stay this low