Market Impact: Negative. Petroamerica reported 2Q15 production of 3,634 bbl/d and cash flow of US$3.0 mm (US$0.03 per share), which was below expectations. Also, 2H15 production guidance is well below our production outlook, and as such, we will be reducing our go-forward production outlook. Offsetting the reduced production profile is also a substantial reduction in 2015e capital spending.
25 Aug 2015
PETROAMERICA OIL CORP. (PTA) REPORTS 2Q15 RESULTS AND PROVIDES 2H15 GUIDANCE
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PETROAMERICA OIL CORP. (PTA) REPORTS 2Q15 RESULTS AND PROVIDES 2H15 GUIDANCE
Market Impact: Negative. Petroamerica reported 2Q15 production of 3,634 bbl/d and cash flow of US$3.0 mm (US$0.03 per share), which was below expectations. Also, 2H15 production guidance is well below our production outlook, and as such, we will be reducing our go-forward production outlook. Offsetting the reduced production profile is also a substantial reduction in 2015e capital spending.