Impact: Negative in the short term given a production and cash flow miss, while current productive capacity of 7,000 boe/d is below our previous thinking and will result in revisions to our estimates. Management has signaled a shift to a more conservative capital spending budget in 2016e, which we think is the right move in this environment.
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REPORTS 3Q15 RESULTS
Impact: Negative in the short term given a production and cash flow miss, while current productive capacity of 7,000 boe/d is below our previous thinking and will result in revisions to our estimates. Management has signaled a shift to a more conservative capital spending budget in 2016e, which we think is the right move in this environment.