Second quarter results were in line to slightly ahead of both our estimates and the consensus. With continued success in terms of cost reductions, Management has reduced operating cost guidance for the year, which will lead to increased financial flexibility to help manage 2017 debt maturities. Given the pullback in commodity prices, Management noted the potential for covenant violations in 2H17 should current strip pricing playout, which could weigh on the stock over the near-term. Despite p
08 Aug 2016
Reports 2Q16 Results, Lowers Operating Cost Guidance
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Reports 2Q16 Results, Lowers Operating Cost Guidance
Pengrowth Energy (PGF:TSE) | 0 0 -3.2% | Mkt Cap: 508.1m
- Published:
08 Aug 2016 -
Author:
Michael Hearn -
Pages:
6
Second quarter results were in line to slightly ahead of both our estimates and the consensus. With continued success in terms of cost reductions, Management has reduced operating cost guidance for the year, which will lead to increased financial flexibility to help manage 2017 debt maturities. Given the pullback in commodity prices, Management noted the potential for covenant violations in 2H17 should current strip pricing playout, which could weigh on the stock over the near-term. Despite p