Production in 1Q18 came in at 23,532 boe/d which was slightly ahead of GMP FE, consensus and company forecasts. This was ideally achieved from a capital outlay of ~$72 mm, which was 10% lower than we were forecasting. Strong cash flow of $58.5 mm or $0.25/sh was 10% ahead of GMP FE and street estimates of ~$53 mm or $0.23/sh. Volume growth and lower costs continued to be expected in 2H18 with the 10,000 bbl/d Veteran battery expansion complete and the reactivation of an operated gas plant by
10 May 2018
Posts high quality beat in 1Q18 results
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Posts high quality beat in 1Q18 results
Tamarack Valley Energy Ltd. (TVE:TSE) | 0 0 3.2% | Mkt Cap: 589.5m
- Published:
10 May 2018 -
Author:
Cody R. Kwong -
Pages:
8
Production in 1Q18 came in at 23,532 boe/d which was slightly ahead of GMP FE, consensus and company forecasts. This was ideally achieved from a capital outlay of ~$72 mm, which was 10% lower than we were forecasting. Strong cash flow of $58.5 mm or $0.25/sh was 10% ahead of GMP FE and street estimates of ~$53 mm or $0.23/sh. Volume growth and lower costs continued to be expected in 2H18 with the 10,000 bbl/d Veteran battery expansion complete and the reactivation of an operated gas plant by