Penn West reported second quarter results that came in slightly ahead of our thinking, although in isolation we view the results as somewhat of a non-event in light of material disposition activity to date. More importantly we believe focus will be placed on the uplift to corporate guidance and operating cost reductions, which have resulted in positive moves to our forecast. As part of its “Phase II” asset sale initiatives, Management has shed a further 6,000 boe/d of production f
05 Aug 2016
Reports 2Q16 Results, Revises Guidance, Announces Further Non-core Asset Sales
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Reports 2Q16 Results, Revises Guidance, Announces Further Non-core Asset Sales
Penn West reported second quarter results that came in slightly ahead of our thinking, although in isolation we view the results as somewhat of a non-event in light of material disposition activity to date. More importantly we believe focus will be placed on the uplift to corporate guidance and operating cost reductions, which have resulted in positive moves to our forecast. As part of its “Phase II” asset sale initiatives, Management has shed a further 6,000 boe/d of production f