Despite a seasonally quiet quarter for drilling operations, Whitecap impressed on the operational front with production of 70,611 boe/d 4% ahead of the consensus estimate while spending of ~$27 mm came in 30% lower than the “street” at $38.6 mm. With AFFO of $176 mm or $0.42/sh overlaying analyst estimates, the company delivered $114 mm of FCF in the period through an all-in cash use to cash flow ratio of 56%. Activity levels are slated to pick up significantly with 66% (~$300 mm)
01 Aug 2019
2Q19 quiet on activity front, impressive on operational and financial performance
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2Q19 quiet on activity front, impressive on operational and financial performance
Whitecap Resources Inc. (WCP:TSE) | 0 0 (-1.0%) | Mkt Cap: 3,323m
- Published:
01 Aug 2019 -
Author:
Cody R. Kwong -
Pages:
8
Despite a seasonally quiet quarter for drilling operations, Whitecap impressed on the operational front with production of 70,611 boe/d 4% ahead of the consensus estimate while spending of ~$27 mm came in 30% lower than the “street” at $38.6 mm. With AFFO of $176 mm or $0.42/sh overlaying analyst estimates, the company delivered $114 mm of FCF in the period through an all-in cash use to cash flow ratio of 56%. Activity levels are slated to pick up significantly with 66% (~$300 mm)