The Company has chosen to reduce its 2016e capital budget from $35 mm to $25 mm while also trimming its monthly dividend by 50% to $0.035 per share in order to better match cash use to cash flow in today’s challenging oil price environment. Despite the 29% reduction in capital, the revised production guidance remains unchanged at 14,600 boe/d. Cardinal’s 2016e cash use to cash flow ratio (on the forward strip) improves dramatically from 244% to 114%, while similarly, the 2016e D/CF (trailing) ou ....
15 Jan 2016
Cardinal Prudently Reshuffles Cash Outflows in 2016e with Guidance Update and Dividend Cut
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Cardinal Prudently Reshuffles Cash Outflows in 2016e with Guidance Update and Dividend Cut
Cardinal Energy Ltd. (CJ:TSE) | 0 0 (-2.2%) | Mkt Cap: 471.3m
- Published:
15 Jan 2016 -
Author:
Cody R. Kwong -
Pages:
7
The Company has chosen to reduce its 2016e capital budget from $35 mm to $25 mm while also trimming its monthly dividend by 50% to $0.035 per share in order to better match cash use to cash flow in today’s challenging oil price environment. Despite the 29% reduction in capital, the revised production guidance remains unchanged at 14,600 boe/d. Cardinal’s 2016e cash use to cash flow ratio (on the forward strip) improves dramatically from 244% to 114%, while similarly, the 2016e D/CF (trailing) ou ....