For oil country - basically it means 'they do what they know'. Three of those areas were the core of Magnum Hunter production/XEC (Permian Basin, Anadarko Basin, ans -not mentioned-Delaware Basin). The Pennsylvania stuff came from Cabot - good diversification for them. Those are pretty significant acreage holdings - all historically very productive, and ALL are domestic. They don't do 'foreign', nor 'offshore', nor 'Alaska/Canada'.
Mastery in a few areas, not a 'jack of all trades'.
On their merger with Cabot, they promised to deliver at least 50% of (net) revenues to shareholders and have delivered consistently since then - with good paydown of any debts they acquire, issue, or incur.
Dividend has been stable ~3.5% ever since the merger.
I have a smattering of oil knowledge, and stick to that now. The big boys are not my bailiwick, too woke, too political - sticking to the mid-sized ones instead, where sound management and good performance can make a big difference.
Tried a couple of tech's/bio's - one worked, one cost me. *w*
Unlike many, my expectation is that oil/gas will continue to be very important and in demand - at least the rest of my life, that is.
Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good ...
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