Enerplus reported 2Q16 results that came in ahead of expectations with controllable cash costs coming in 14% below our forecast. With cost reductions continuing to hit the tape, Management has reduced operating and G&A cost guidance for the second time this year, leading to a positive boost to our cash flow outlook. Given a significantly improved balance sheet and lower cost structure, Management has increased the 2016e capital budget by $15 mm, which will position the Company for growth
08 Aug 2016
Reports 2Q16 Results, Increases Capital Program, Lowers Cost Guidance Yet Again
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Reports 2Q16 Results, Increases Capital Program, Lowers Cost Guidance Yet Again
Enerplus Corporation (ERF:TSE) | 0 0 0.6% | Mkt Cap: 3,228m
- Published:
08 Aug 2016 -
Author:
Michael Hearn -
Pages:
8
Enerplus reported 2Q16 results that came in ahead of expectations with controllable cash costs coming in 14% below our forecast. With cost reductions continuing to hit the tape, Management has reduced operating and G&A cost guidance for the second time this year, leading to a positive boost to our cash flow outlook. Given a significantly improved balance sheet and lower cost structure, Management has increased the 2016e capital budget by $15 mm, which will position the Company for growth