4Q15 cash flow of $60.0 mm beat expectations ($23 mm tax recovery). Production of 17,651 boe/d beat expectations. We estimate pro-forma 4Q15 clean production including the CNRL assets was ~21,250 boe/d. Management expects cash flow at the strip over the next 12 months to fully fund the dividend (~$164 mm/year), which was cut by 45%. 2016 G&A costs are expected to be flat vs. 2015. We have increased our 2016e production forecast by 2% to 21,034 boe/d, and our cash flow estimate by 8% to $177 mm ( ....
03 Mar 2016
4Q15 Update
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4Q15 Update
PrairieSky Royalty Ltd (PSK:TSE) | 0 0 0.0% | Mkt Cap: 6,860m
- Published:
03 Mar 2016 -
Author:
Michael P. Dunn -
Pages:
8
4Q15 cash flow of $60.0 mm beat expectations ($23 mm tax recovery). Production of 17,651 boe/d beat expectations. We estimate pro-forma 4Q15 clean production including the CNRL assets was ~21,250 boe/d. Management expects cash flow at the strip over the next 12 months to fully fund the dividend (~$164 mm/year), which was cut by 45%. 2016 G&A costs are expected to be flat vs. 2015. We have increased our 2016e production forecast by 2% to 21,034 boe/d, and our cash flow estimate by 8% to $177 mm ( ....