NuVista announced a series of transactions providing for improved liquidity and acceleration of its greater Wapiti Montney development, namely a $70 mm non-core asset divestiture, the issue of $70 mm of 5-year notes, and an increase to its 2016e capital budget by ~$40 mm with the advent of a 2nd operated rig immediately added to its fleet. There is no change to our 2017e CFPS, though on the strip, D/CF (trailing) has moved from 1.7x to 1.5x which is positive. We continue to rank the stock as an ....
15 Jun 2016
Announces Asset Divestiture, Note Issue, 2016e Capital Budget Increase
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Announces Asset Divestiture, Note Issue, 2016e Capital Budget Increase
NuVista Energy Ltd. (NVA:TSE) | 0 0 -0.5% | Mkt Cap: 1,392m
- Published:
15 Jun 2016 -
Author:
Robert Fitzmartyn -
Pages:
7
NuVista announced a series of transactions providing for improved liquidity and acceleration of its greater Wapiti Montney development, namely a $70 mm non-core asset divestiture, the issue of $70 mm of 5-year notes, and an increase to its 2016e capital budget by ~$40 mm with the advent of a 2nd operated rig immediately added to its fleet. There is no change to our 2017e CFPS, though on the strip, D/CF (trailing) has moved from 1.7x to 1.5x which is positive. We continue to rank the stock as an ....