Petrus reported 3Q19 results which largely trailed expectations, as sustained commodity price weakness once again saw the company defer drilling activity in favour of $2.1 mm of further debt reduction. With development drilling pushed until late in the quarter, declines took down corporate production to 7,785 boe/d, 8% below both GMPFE and consensus expectations. Further exacerbating the above, weak top line natural gas and NGL pricing led to FFO generation of $4.4 mm ($0.09/sh), well below t
13 Nov 2019
3Q19 results behind consensus, focus remains on debt repayment and forthcoming maturities
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3Q19 results behind consensus, focus remains on debt repayment and forthcoming maturities
Petrus Resources Ltd. (PRQ:TSE) | 0 0 (-6.7%) | Mkt Cap: 61.8m
- Published:
13 Nov 2019 -
Author:
Cody R. Kwong -
Pages:
6
Petrus reported 3Q19 results which largely trailed expectations, as sustained commodity price weakness once again saw the company defer drilling activity in favour of $2.1 mm of further debt reduction. With development drilling pushed until late in the quarter, declines took down corporate production to 7,785 boe/d, 8% below both GMPFE and consensus expectations. Further exacerbating the above, weak top line natural gas and NGL pricing led to FFO generation of $4.4 mm ($0.09/sh), well below t