ERF’s Q1 CFPS was better than we had forecast despite weaker oil production. We estimate ~$130-$150 mm of FCF in 2018e. Management is comfortable with 2018e guidance (20% liquids growth adjusted for asset sales), and aims to beat it. Our production and CFPS estimates are little changed. $20.00/share TP and BUY rating maintained.
04 May 2018
ERF’s growth outlook intact despite Q1 dip
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
ERF’s growth outlook intact despite Q1 dip
Enerplus Corporation (ERF:TSE) | 0 0 0.6% | Mkt Cap: 3,228m
- Published:
04 May 2018 -
Author:
Michael P. Dunn -
Pages:
9
ERF’s Q1 CFPS was better than we had forecast despite weaker oil production. We estimate ~$130-$150 mm of FCF in 2018e. Management is comfortable with 2018e guidance (20% liquids growth adjusted for asset sales), and aims to beat it. Our production and CFPS estimates are little changed. $20.00/share TP and BUY rating maintained.