Capital Discipline And Cost ReductionA 2026 budget set below street expectations, together with an expected roughly 6% decline in production costs, signals capital discipline and should improve per‑barrel margins and free cash flow generation.
Reserve Upside And Inventory DurationRepositioning into Charlie Lake and Clearwater has materially extended inventory life, and analysts flag potential for booked reserves to be meaningfully understated, which could support sustained outperformance versus SMID‑cap peers.
Waterflood ExpansionA planned doubling of waterflood investment to $100 million and a roughly 70% increase in injection rates could bring over one third of Clearwater volumes under waterflood in 2026, supporting higher recoveries and slower production declines.