Paramount‘s 3Q18 production of 80,471 boe/d trailed GMP FE estimates of 85,141 boe/d and consensus at 83,910 boe/d due to turnarounds, sale of Resthaven assets, and facility start-up delays. Cash flow also came in lower than expected at $55.6 mm or $0.42/sh versus our view of $63.4 mm ($0.48/sh) and the “street” at $0.48/sh. 2018 production guidance has been reduced to 85,000-86,000 boe/d, which implies 4Q18e volumes of 81,000 -85,000 boe/d, a large departure from the ~95,00
09 Nov 2018
3Q18 results softer than expected, meaningful downdraft to 4Q18 production
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3Q18 results softer than expected, meaningful downdraft to 4Q18 production
Paramount Resources Ltd. Class A (POU:TSE) | 0 0 -0.2% | Mkt Cap: 2,314m
- Published:
09 Nov 2018 -
Author:
Cody R. Kwong -
Pages:
7
Paramount‘s 3Q18 production of 80,471 boe/d trailed GMP FE estimates of 85,141 boe/d and consensus at 83,910 boe/d due to turnarounds, sale of Resthaven assets, and facility start-up delays. Cash flow also came in lower than expected at $55.6 mm or $0.42/sh versus our view of $63.4 mm ($0.48/sh) and the “street” at $0.48/sh. 2018 production guidance has been reduced to 85,000-86,000 boe/d, which implies 4Q18e volumes of 81,000 -85,000 boe/d, a large departure from the ~95,00