Storm reported first quarter financial and operating results that were in line to ahead of expectations. As telegraphed, Storm has formally reduced its capital investment outlook for 2016e once again in light of sustained weak natural gas prices, delaying the construction of its 3rd Umbach compression facility to April 2017e, now offering ~$40 mm capex for 2016e to achieve 15,500-16,000 boe/d and exit the year at 13,000-14,000 boe/d. We continue to believe the market will endorse the Storm busin ....
13 May 2016
Reports First Quarter Results, Tempers 2016e Growth Initiatives
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Reports First Quarter Results, Tempers 2016e Growth Initiatives
- Published:
13 May 2016 -
Author:
Robert Fitzmartyn -
Pages:
8
Storm reported first quarter financial and operating results that were in line to ahead of expectations. As telegraphed, Storm has formally reduced its capital investment outlook for 2016e once again in light of sustained weak natural gas prices, delaying the construction of its 3rd Umbach compression facility to April 2017e, now offering ~$40 mm capex for 2016e to achieve 15,500-16,000 boe/d and exit the year at 13,000-14,000 boe/d. We continue to believe the market will endorse the Storm busin ....