Impact: Neutral. Despite the Company's 3Q15 production that was in line with our forecast and cash flow that was slightly ahead of expectations, a $0.5 billion impairment to PP&E and a bank line review looming in November will likely moderate any optimism from an investor base that continues to be concerned with the leverage profile here.
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3Q15 ESTIMATES SLIGHTLY AHEAD OF EXPECTATIONS
- Published:
03 Nov 2015 -
Author:
Cody R. Kwong -
Pages:
2
Impact: Neutral. Despite the Company's 3Q15 production that was in line with our forecast and cash flow that was slightly ahead of expectations, a $0.5 billion impairment to PP&E and a bank line review looming in November will likely moderate any optimism from an investor base that continues to be concerned with the leverage profile here.