The Company’s production of 14,187 boe/d overlaid expectations while cash flow of $15.3mm or $0.07 per share was 8% ahead of our forecast. An announced sale of its Sunset property ($28 mm) combined with the disposition of certain Valhalla production facilities ($18 mm) has raised a combined $43 mm which will meaningfully improve Surge’s balance sheet. Updated 2016 guidance will be provided in early April following the successful close of these two dispositions, where we suspect the Company will ....
17 Mar 2016
Year-end Results In Line, Asset and Midstream Sales Improve Balance Sheet
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Year-end Results In Line, Asset and Midstream Sales Improve Balance Sheet
Surge Energy Inc. (SGY:TSE) | 0 0 -0.5% | Mkt Cap: 433.4m
- Published:
17 Mar 2016 -
Author:
Cody R. Kwong -
Pages:
10
The Company’s production of 14,187 boe/d overlaid expectations while cash flow of $15.3mm or $0.07 per share was 8% ahead of our forecast. An announced sale of its Sunset property ($28 mm) combined with the disposition of certain Valhalla production facilities ($18 mm) has raised a combined $43 mm which will meaningfully improve Surge’s balance sheet. Updated 2016 guidance will be provided in early April following the successful close of these two dispositions, where we suspect the Company will ....