Delphi reported 2Q16 results that were behind our production and cash flow estimates. Operations during the quarter were materially disrupted by a one month outage at the SemCAMs K3 gas plant. Operations are now on track in 2H16e with corporate volumes back in the 8,500 boe/d range. Ideally, the Company now expects to exit the year at a rate up 500 boe/d from prior guidance at the midpoint. While cash flow is up 20% on higher anticipated 2017e production, we have left our target price intact
12 Aug 2016
2Q16 Hit With Unplanned Outages, Improved Outlook for 2H16
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2Q16 Hit With Unplanned Outages, Improved Outlook for 2H16
Delphi Energy (DEE:TSE) | 0 0 -1.1% | Mkt Cap: 167.0m
- Published:
12 Aug 2016 -
Author:
Michael Hearn -
Pages:
7
Delphi reported 2Q16 results that were behind our production and cash flow estimates. Operations during the quarter were materially disrupted by a one month outage at the SemCAMs K3 gas plant. Operations are now on track in 2H16e with corporate volumes back in the 8,500 boe/d range. Ideally, the Company now expects to exit the year at a rate up 500 boe/d from prior guidance at the midpoint. While cash flow is up 20% on higher anticipated 2017e production, we have left our target price intact