NuVista’s production of 50,391 boe/d matched expectations, although condensate contributions were higher than forecasted. AFFO of $64.3 mm, or $0.29/sh, was lower than GMPFE at $0.33/sh and consensus at $0.31/sh, on low natural gas and NGL pricing. Capital spending of $89 mm was 55% higher than consensus, with phased timing of its 2019 program permitting the acceleration of activity, as well as including ~$26 mm in infrastructure activity. Management did, however, reconfirm it is focuse
07 Aug 2019
2Q19 overspend garners market nervousness despite targeted spending at low end of 2019 guidance
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2Q19 overspend garners market nervousness despite targeted spending at low end of 2019 guidance
NuVista Energy Ltd. (NVA:TSE) | 0 0 -0.5% | Mkt Cap: 1,392m
- Published:
07 Aug 2019 -
Author:
Cody R. Kwong -
Pages:
7
NuVista’s production of 50,391 boe/d matched expectations, although condensate contributions were higher than forecasted. AFFO of $64.3 mm, or $0.29/sh, was lower than GMPFE at $0.33/sh and consensus at $0.31/sh, on low natural gas and NGL pricing. Capital spending of $89 mm was 55% higher than consensus, with phased timing of its 2019 program permitting the acceleration of activity, as well as including ~$26 mm in infrastructure activity. Management did, however, reconfirm it is focuse