Storm reported 2Q19 financial and operating results below GMPFE and consensus expectations (CFPS $0.10 vs. GMPFE $0.12 vs. recently lowered consensus of $0.12, which was $0.14 only three weeks prior). Volumes and CFO were negatively influenced by unplanned third party outages of ~2,000 boe/d during the quarter, with lower realized pricing and increased cash costs due to unutilized take or pay agreements only compounding the matter. While only mid-way through August, the company has communicat
14 Aug 2019
Reports 2Q19 results, third party facility outages drive 2019 outlook lower
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Reports 2Q19 results, third party facility outages drive 2019 outlook lower
- Published:
14 Aug 2019 -
Author:
Robert Fitzmartyn -
Pages:
9
Storm reported 2Q19 financial and operating results below GMPFE and consensus expectations (CFPS $0.10 vs. GMPFE $0.12 vs. recently lowered consensus of $0.12, which was $0.14 only three weeks prior). Volumes and CFO were negatively influenced by unplanned third party outages of ~2,000 boe/d during the quarter, with lower realized pricing and increased cash costs due to unutilized take or pay agreements only compounding the matter. While only mid-way through August, the company has communicat