Impact: Neutral to slightly positive. We view production and cash flow as in line to our estimates on lower E&D spending, which is positive. The Company has offered a modest bump to its 2016e capital guidance, though this was expected due to its recent flow-through financing, and will use the increased spending to test a new light oil concept on its existing acreage.
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ANNOUNCES 1Q16 RESULTS
Impact: Neutral to slightly positive. We view production and cash flow as in line to our estimates on lower E&D spending, which is positive. The Company has offered a modest bump to its 2016e capital guidance, though this was expected due to its recent flow-through financing, and will use the increased spending to test a new light oil concept on its existing acreage.