Seven Generations reported 4Q15 results that were in line on production while beating us on cash flow as a result of stronger realized liquids pricing and a lower royalty burden. The 2015 year-end reserve report was highlighted by PDP FD&A costs in 2015 that are well below 2014 levels, reflecting a reduction of capital costs and further refinement of drilling and completion methodology. Embedded 2P FDC is down 20% y/y. With capital spending guidance unchanged, we’ve made no changes to our estima ....
11 Mar 2016
4Q15 Cash Flow Exceeds Expectations, Reports Solid PDP FD&A Metrics
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4Q15 Cash Flow Exceeds Expectations, Reports Solid PDP FD&A Metrics
- Published:
11 Mar 2016 -
Author:
Cody R. Kwong -
Pages:
9
Seven Generations reported 4Q15 results that were in line on production while beating us on cash flow as a result of stronger realized liquids pricing and a lower royalty burden. The 2015 year-end reserve report was highlighted by PDP FD&A costs in 2015 that are well below 2014 levels, reflecting a reduction of capital costs and further refinement of drilling and completion methodology. Embedded 2P FDC is down 20% y/y. With capital spending guidance unchanged, we’ve made no changes to our estima ....