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Research Tree offers RMP ENERGY INC research coverage from 1 professional analysts, and we have 29 reports on our platform.
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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).
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.
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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.