Altura reported fourth quarter financial and operating results that we are suggesting are largely in line, characterized by higher volume output but lower CFO generation, yet leaving 2015 with a stronger cash position than previously anticipated. With initial signs of crude oil price recovery and strong early indications of its first drilling results surpassing our expectations, Altura will elect to invest capital in 2016e at the higher end of its $5-$11 mm capex range previously offered late la ....
