Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CREW ENERGY INC. We currently have 27 research reports from 1 professional analysts.
|14Mar17 13:11||MKW||Crew Energy Inc. Announces Closing of C$300 Million Senior Notes Offering|
|02Mar17 21:33||MKW||Crew Energy Inc. Announces Fourth Quarter and Full Year 2016 Financial and Operating Results|
|24Feb17 18:47||MKW||Crew Energy Inc. Announces C$300 Million Senior Notes Offering|
|21Feb17 19:27||MKW||Crew Energy Inc. Announces Proposed Offering of Senior Unsecured Notes and the Conditional Redemption of All Outstanding 8.375% Senior Unsecured Notes Due 2020|
|09Feb17 23:36||MKW||Crew Energy Announces Strong 2016 Montney Reserves Growth With Continued Capital Efficiency Improvements|
|05Jan17 12:00||MKW||Crew Energy Announces a 2017 Capital Budget of $200 Million Targeting Montney Production Growth of Over 40%|
|03Mar16 21:15||MKW||Crew Energy Inc. Announces Fourth Quarter and Full Year 2015 Financial and Operating Results|
Frequency of research reports
Research reports on
CREW ENERGY INC
CREW ENERGY INC
2Q16 Results, Catalyst Rich 2H16 Ahead
08 Aug 16
Crew reported second quarter financial and operating results that were ahead of our expectations on both a production and cash flow basis. We have adjusted our production forecast to account for 1-week of downtime on the Alliance pipeline system scheduled for October. Lower costs achieved in the quarter are expected to remain relatively sticky and so we have also adjusted our inputs for lower operating, transportation, G&A and royalties. With a catalyst rich 2H16e ahead and cash flow rising 10% in 2016e and 5% in 2017e on account of lower cost estimates, we have increased our target price to $7.50 per share while maintaining our Outperform ranking.
2Q16e Quarterly Preview
26 Jul 16
Some Recovery on Segmented Cash Flow Generation Over Q1 Though Still Down 56% Y/Y. In aggregate, the Intermediate, Mid, and Small Cap groups are expected to generate 2Q16e cash flow of $1,281 mm, $183 mm, and $53 mm, or $1.517 billion in total, that while depressed relative to the same period last year (~$2.647 billion combined), is up 17% sequentially from the prior quarter, largely on the strength of crude oil price recovery in the period. Severely weak natural gas pricing picture markedly reversed into summer, market likely to ignore financials for natural gas producers and look ahead to winter and formalization of sell-side 2018e estimates in coming months. Spot AECO natural gas prices recently crested C$2.60/mcf, and with a reasonable alignment of previously distressed NE BC Stn2 differentials, augmented by a withdrawal expected next week, view the market psyche as constructive and looking ahead, with the analogy that this market is shaping up to mirror 2012 still holding. That said, with crude oil poised to retest support levels, combined with strong stock price performance broadly observed YTD, we would characterize sentiment as slightly pessimistic in the near-term which could reduce or unwind momentum-based investment strategies that have worked thus far in 2016.
First Quarter Results Markedly Ahead of Expectations
06 May 16
Crew reported first quarter financial and operating results that were in line to ahead of our expectations, though largely in line with consensus estimates. Now capturing the potential of its marketing contracts on receipt of a full period of financials, our 2016e and 2017e CFPS estimates are higher. There are no material changes to our forecast elsewhere. Further, the Company’s LOC was approved at $235 mm, a slight 6% reduction over prior. On higher CFO and less risk surrounding its liquidity, we are increasing our 12-month target price to $6.25/sh. We continue to rank the stock as an Outperform.
Intermediates, Mid Caps & Small Cap Commodity Price Update
24 Mar 16
With this publication we highlight forecast revisions associated with our commodity price update (Natural Gas Update; Crude Oil Update), roughly characterized by near term lifts in crude oil prices concurrent with a reduction to portended 2016e and 2017e natural gas pricing outlooks. While there are a few ranking changes on mostly non-material moves to valuations, implied returns within the group on the whole are far less than postulated only a few months ago, reflective of resurgent equity prices on what was previously an oversold market. Details of the Alberta royalty review should arrive in the following weeks; hence the likelihood of subsequent forecast changes is likely.
Strong trading leads to upgrades
22 Mar 17
On the back of today’s positive trading update and slightly upgraded profit forecasts for FY2017, FY2018 and FY2019 we have reviewed our DCF analysis. This has led to an increased DCF valuation per share of 1500p (from 1200p) which we have made our new target price (from 1200p). Both TFP and JC Paper have contributed to the upgrades shown in the table below as have favourable currency movements. With the potential for further upgrades due to capitalising 3DP costs to come we maintain our Add recommendation.
GMP FirstEnergy ― UK Energy morning research package
17 Mar 17
Pacific Exploration & Production1,6 (PEN CN); BUY, C$72.00: 4Q16 results and improving outlook | Serinus Energy (SEN CN)1, 3; Speculative Buy, C$0.65: FY16 results | IGas Energy (IGAS LN) (not covered): Final terms of a previously announced proposed capital restructuring | Tullow Oil (TLW LN): HOLD, £3.10: Right Issue at a discount & CNOOC exercises pre-emption rights in Uganda
Bang to rights
21 Mar 17
Tullow unexpectedly announced a US$750m rights issue on Friday at a 45.2% discount to the previous close. While this step confirms our investment thesis, the scale of the discount and the timing look like a slap in the face for investors and/or indicative of a weaker financial position than we are modelling. We publish revised estimates to reflect the impact of the issue and cut our Target Price to 215p per share (from 245p). We maintain our Hold recommendation.
Panmure Morning Note 22-03-2017
22 Mar 17
Acacia Mining and Endeavour Mining confirmed merger talks have now ended with Endeavour claiming an inability to “create adequate value for Endeavour shareholders”, most likely, we believe, given the disappointing ruling from the Tanzanian government on copper-gold concentrate sales. We were positive on the merger and believed a credible London listed Pan-African producer capable of challenging Randgold, would have been established. We make no change to our Hold recommendation today, and expect the shares to be marked lower in early trade.
South Disouq spuds
20 Mar 17
SDX Energy announced this morning that it has spudded the South Disouq (SD-1X) well in Egypt, targeting gas and oil across a number of intervals. This is a high impact event for SDX Energy, as current company 2P reserves of 4.7mmboe (post acquisition) would be dwarfed by success at South Disouq (we model a 65mmboe field of which SDX holds 55% WI), which could be developed quickly due to existing pipeline infrastructure passing through the block. Our valuation for South Disouq is 6.8p/share, although on success we would expect notable de-risking. Our core NAV is 42p with a full NAV (including South Disouq) of 57p/share. The well is due to take 30-45 days, so we would expect a result in mid late April.