016 capex guidance was revised $32.5 mm lower at the midpoint to $200-$225 mm, a result of paring back the Eagle Ford development pace. Lower capex plus minor asset sales led to lower 2016e production guidance, down 2 mboe/d to 67-69 mboe/d. 2Q16 CFPS of $0.39/share (diluted) was in line with our prior $0.38/share estimate and higher than consensus at $0.34/share. Production was in line, while organic capex was much lower than we estimated ($36 mm versus our $59 mm estimate). No change to $7.
04 Aug 2016
2Q16 Results, Updated Guidance, Asset Divestitures
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2Q16 Results, Updated Guidance, Asset Divestitures
Baytex Energy Corp. (BTE:TSE) | 0 0 (-2.1%) | Mkt Cap: 758.2m
- Published:
04 Aug 2016 -
Author:
Michael P. Dunn -
Pages:
9
016 capex guidance was revised $32.5 mm lower at the midpoint to $200-$225 mm, a result of paring back the Eagle Ford development pace. Lower capex plus minor asset sales led to lower 2016e production guidance, down 2 mboe/d to 67-69 mboe/d. 2Q16 CFPS of $0.39/share (diluted) was in line with our prior $0.38/share estimate and higher than consensus at $0.34/share. Production was in line, while organic capex was much lower than we estimated ($36 mm versus our $59 mm estimate). No change to $7.