Ikkuma reported third quarter operational and financial results that largely trailed consensus expectations. Production of 5,707 boe/d and funds flow of ~$(1.1 mm) missed consensus estimates of 6,050 boe/d and $2.0 mm, primarily due to the natural gas pricing collapse seen in 3Q17 and one-time costs associated with the company’s transformative acquisition and concurrent disposition. Subsequent to the completion of 2x wells in 3Q17, the company provided an update on its Cardium light oil
23 Nov 2017
3Q17 results trail expectations, update on acquisition, and new cardium wells
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3Q17 results trail expectations, update on acquisition, and new cardium wells
Ikkuma reported third quarter operational and financial results that largely trailed consensus expectations. Production of 5,707 boe/d and funds flow of ~$(1.1 mm) missed consensus estimates of 6,050 boe/d and $2.0 mm, primarily due to the natural gas pricing collapse seen in 3Q17 and one-time costs associated with the company’s transformative acquisition and concurrent disposition. Subsequent to the completion of 2x wells in 3Q17, the company provided an update on its Cardium light oil