Research, Charts & Company Announcements
Research Tree offers ARC RESOURCES LTD research coverage from 1 professional analysts, and we have 23 reports on our platform.
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Reports 2Q16 Results, Strategic Cardium Acquisitions, and Revised Guidance
29 Jul 16
ARC reported second quarter results that modestly trailed consensus expectations, with production impacted by pipeline restrictions in the quarter, while cash flow came up short due to the lower volumes and cash taxes in the period. More importantly the Company entered into two strategic acquisitions in the Cardium at accretive metrics that further builds out its working interest in the region, while allowing for increased control over the pace of development. The Board of Directors has approved a $60 mm increase to the E&D capital program, and coupled with the aforementioned acquisition, results in a bump to average annual production guidance to 118,000-122,000 boe/d. Incorporating the acquisitions and new guidance results in positive moves to our forecast. In keeping our 2017e EV/DACF multiple intact, we have increased our target price to $27.00 per share and have maintained our Outperform ranking.
28 Jun 16
We recently had the pleasure of hosting the ARC management team to run through the Company's latest presentation. Management remains focused on maintaining the Company's balance sheet strength with targeted debt to cash flow in the range of 1.0x to 1.5x. The Company remains active in terms of its hedge book and continues to layer on hedges through to 2020 in conjunction with planned infrastructure build outs.
Reports Strong 1Q16 Results
29 Apr 16
ARC reported strong first quarter results that came in ahead of both our expectations and the consensus in a difficult period that saw a precipitous drop in commodity prices.The Company capped off the first quarter in a position of strength both financially and operationally, with a pristine balance sheet and the Company’s Montney assets exceeding expectations. Management has maintained its previously announced 2016e guidance, although given first quarter results we would not be surprised to see positive revisions to annual guidance as the year progresses. First quarter results remain supportive of our view on this name as one of our top ideas in the yield space, and thus we have maintained our Outperform ranking along with our $22.00 per share target price.
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21 Oct 16
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£70m placing and open offer
21 Oct 16
Hurricane has successfully raised £70m by issuing c.205.9m shares at a price of 34p. The company is also undertaking an open offer at the same price to raise a further £4.4m. The proceeds will be used to fund two exploration wells on Lincoln and Warwick as well as further development activity on the Lancaster field.