Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on RMP ENERGY INC. We currently have 29 research reports from 1 professional analysts.
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RMP ENERGY INC
RMP ENERGY INC
Reports Second Quarter Results, Engages in Strategic Alternative Review
22 Aug 16
RMP reported second quarter operating and financial results that would have trailed our expectations prior to its announcement of its engagement in a strategic alternatives process. Clearly, market focus will shift from a growth perspective to a near-term underlying asset value build-up, of which we refine in this Facts with the latest well deliverability and forward commodity price curve information. We have reduced our 12-month target price to $1.40/sh on this basis, with an implied EV/DACF target valuation in line with the notional 6.0-8.0x band we generally observe in the M&A market on a near-term or 2017e outlook.
PROVIDES A BANK FACILITY AND OPERATIONS UPDATE, INITIATES A STRATEGIC REVIEW
05 Aug 16
Impact: Neutral to slightly negative. Unplanned facility and pipeline outages have reduced estimated 2Q16e volumes and corresponding 2016e annual production guidance by ~7% (on an unchanged capital budget of $50 mm). In light of a challenging commodity environment and being capital constrained, RMP's has initiated a strategic review process to unlock resource value with our current RENAV methodology, inclusive of its partial recognition of its recently acquired Gold Creek property, suggests a valuation of ~$2.70 per diluted share (~$1.30 per diluted share using strip pricing).
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.
RMP CORPORATE UPDATE
31 May 16
We had the pleasure of hosting RMP management on Monday afternoon for a quick update on its core operating areas, specifically at its emerging light oil Montney play at Gold Creek. The Company recently announced that it has increased its land position at Gold Creek by 20 net sections to 74 (73.5 net) sections within the heart of the fairway and reported test results from its first exploration well at 3-22.
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
Small Cap Breakfast
29 Nov 16
Asia Pacific Investment Partner - the research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
24 Nov 16
Quixant* (QXT): Gaming gains (CORP) | SCISYS* (SSY): Bringing good news from Germany (CORP) | Hayward Tyler Group*: Contract wins (CORP) | Sound Energy (SOU): TE-7 flow rate and fund raise (BUY) | Water Intelligence* (WATR): Growth and improving returns in a defensive market (CORP) | Imaginatik* (IMTK): Interim trading update (CORP)
Small Cap Breakfast
28 Nov 16
Warpaint London—Schedule one update. Raising £2.5m at 97p. Expected mkt cap £62.6m vs revenues of £22.3m Walls & Futures REIT — Has raised £1m at £1 to acquire, refurbish or develop residential properties in the UK . Due to arrive on ISDX on 29 November Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.