After coming off restriction following our participation in Spartan’s $96 mm equity financing wherein the Company issued 39.9 mm shares at $2.41 per share, we summarize the Company’s 4Q15 results, 2015 reserves and 2016 capital guidance. Fourth quarter results beat both our production and cash flow estimates while the Company posted single digit 1P and 2P basis F&D costs in a relatively quiet and organic year of operations, aided by a y/y reduction in FDC. A conservative 1H16e budget of $18 - $ ....

16 Mar 2016
Posts Solid 2015 Financial and Reserve performance, Conservative 1H16e Budget, Closes $96 mm Financing

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Posts Solid 2015 Financial and Reserve performance, Conservative 1H16e Budget, Closes $96 mm Financing
- Published:
16 Mar 2016 -
Author:
Cody R. Kwong -
Pages:
9 -
After coming off restriction following our participation in Spartan’s $96 mm equity financing wherein the Company issued 39.9 mm shares at $2.41 per share, we summarize the Company’s 4Q15 results, 2015 reserves and 2016 capital guidance. Fourth quarter results beat both our production and cash flow estimates while the Company posted single digit 1P and 2P basis F&D costs in a relatively quiet and organic year of operations, aided by a y/y reduction in FDC. A conservative 1H16e budget of $18 - $ ....