Petrus reported 2Q19 results which were slightly ahead of consensus estimates, as a continued focus on balance sheet fortification saw the company avoid the drill bit in favour of $5.8 mm in net debt reduction. Production of 8,647 boe/d was in line, while funds flow of $8.4 mm ($0.17/sh) was ahead of GMPFE estimates of $0.15/sh, as the negative impact of commodity price deterioration was muted by reduced cash costs and stronger liquids volumes. The company received approval for a 3Q19 capital
07 Aug 2019
2Q19 results slightly ahead, grinding away at debt repayment
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2Q19 results slightly ahead, grinding away at debt repayment
Petrus Resources Ltd. (PRQ:TSE) | 0 0 (-6.7%) | Mkt Cap: 61.8m
- Published:
07 Aug 2019 -
Author:
Cody R. Kwong -
Pages:
6
Petrus reported 2Q19 results which were slightly ahead of consensus estimates, as a continued focus on balance sheet fortification saw the company avoid the drill bit in favour of $5.8 mm in net debt reduction. Production of 8,647 boe/d was in line, while funds flow of $8.4 mm ($0.17/sh) was ahead of GMPFE estimates of $0.15/sh, as the negative impact of commodity price deterioration was muted by reduced cash costs and stronger liquids volumes. The company received approval for a 3Q19 capital