Market Impact: Positive. Cash flow was stronger than expected, due to lower opex, better price realizations, and sales volumes exceeding production. 2015 guidance for capex and opex has been reduced. That said, we were surprised that September production volumes were not stronger, and may have to reduce our 4Q15e production estimate, which currently sits at 86,750 bbl/d.
28 Oct 2015
3Q15 CASH FLOW BEATS - COST AND CAPEX GUIDANCE REDUCED
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3Q15 CASH FLOW BEATS - COST AND CAPEX GUIDANCE REDUCED
MEG Energy Corp. (MEG:TSE) | 0 0 (-0.9%) | Mkt Cap: 1,559m
- Published:
28 Oct 2015 -
Author:
Michael P. Dunn - Pages:
Market Impact: Positive. Cash flow was stronger than expected, due to lower opex, better price realizations, and sales volumes exceeding production. 2015 guidance for capex and opex has been reduced. That said, we were surprised that September production volumes were not stronger, and may have to reduce our 4Q15e production estimate, which currently sits at 86,750 bbl/d.