TORC’s 4Q15 production was in line with expectations while cash flow outpaced our forecast by 7% and beat the street by 9%. All-in FD&A costs of $22.07/boe, $28.56/boe and $35.73/boe on a 2P, 1P and PDP basis respectively came as no surprise, with the Company’s southeast Saskatchewan acquisi on activity dominating this year’s capital expenditures. With positive moves observed in both our NAV and forward cash flow outlook, we are increasing our target price to $7.25 per share and maintaining our ....
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Announces Year-End Financial, Operational and Reserve Results
- Published:
04 Mar 2016 -
Author:
Cody R. Kwong -
Pages:
9
TORC’s 4Q15 production was in line with expectations while cash flow outpaced our forecast by 7% and beat the street by 9%. All-in FD&A costs of $22.07/boe, $28.56/boe and $35.73/boe on a 2P, 1P and PDP basis respectively came as no surprise, with the Company’s southeast Saskatchewan acquisi on activity dominating this year’s capital expenditures. With positive moves observed in both our NAV and forward cash flow outlook, we are increasing our target price to $7.25 per share and maintaining our ....