TORC entered into agreements to purchase 1,200 boe/d of low decline, light oil, assets primarily focused within its core SE Saskatchewan region for total proceeds of $95.5 mm. Concurrently the Company has raised $111 mm in a bought deal equity financing that improves their balance sheet to 1.5x D/CF (trailing) in 2017e. TORC’s 2Q16 results were in line with expectations on a production, cash flow, and capital expenditures basis. With the proforma outlook showing as neutral on a CFPS bas
16 Aug 2016
Announces SE Saskatchewan Acquisitions, Solid 2Q16 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
Announces SE Saskatchewan Acquisitions, Solid 2Q16 Results
- Published:
16 Aug 2016 -
Author:
Cody R. Kwong -
Pages:
8
TORC entered into agreements to purchase 1,200 boe/d of low decline, light oil, assets primarily focused within its core SE Saskatchewan region for total proceeds of $95.5 mm. Concurrently the Company has raised $111 mm in a bought deal equity financing that improves their balance sheet to 1.5x D/CF (trailing) in 2017e. TORC’s 2Q16 results were in line with expectations on a production, cash flow, and capital expenditures basis. With the proforma outlook showing as neutral on a CFPS bas