Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on SEVEN GENERATIONS ENERGY - A. We currently have 38 research reports from 1 professional analysts.
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SEVEN GENERATIONS ENERGY - A
SEVEN GENERATIONS ENERGY - A
ADVANCES MARKET ACCESS INITIATIVES THROUGH LNG EXPORT DEVELOPMENT AGREEMENT
19 Sep 16
Impact: Although full development of Steelhead's LNG projects is expected to materialize over a longer time horizon, we view Seven Generation's proactive approach to adding and diversifying market access for its liquids-rich natural gas stream positively.
CLOSES ACQUISITION OF KAKWA MONTNEY NEST ASSETS, ANNOUNCES INCREASE TO CREDIT FACILITY
18 Aug 16
Impact: Neutral to slightly positive. Seven Generations increased borrowing capacity of $1.1 billion, in addition to an estimated $600 mm working capital following the Kakwa acquisition, provides available funding far in excess of the Company's 2H16e capital plans as well as our current 2017e outlook, giving the Company flexibility over the balance of this year to potentially increase capital investment and deliver production growth above our forecast.
2Q16 Results Outpace Expectations
05 Aug 16
Second quarter CFPS of $0.66 was materially higher than FirstEnergy’s forecast of $0.51 and consensus estimates of $0.46. Even adjusting the quarter for positive one-time items, normalized CFPS of $0.56 was still an impressive beat. 2Q16 production volumes topped our forecast by 2% and was led by liquids contribution of 59% (FirstEnergy: 57%), which, when coupled with persistently stronger than expected realized natural gas prices, led to the cash flow outperformance. 2Q16 production volumes topped our forecast by 2% and was led by liquids contribution of 59% (FirstEnergy: 57%), which, when coupled with persistently stronger than expected realized natural gas prices, led to the cash flow outperformance
ANNOUNCES 2Q16 FINANCIAL RESULTS AHEAD OF EXPECTATIONS
04 Aug 16
Impact: Positive. Seven Generations 2Q16 financial results were stronger than our forecast on all measures, particularly for cash flow that, after adjusting for one-time items, was still significantly better than our estimate as well as consensus forecasts.
Expands Nest with Musreau Assets Out of Paramount
27 Jul 16
Seven Generations adds 30,000 boe/d, 2P reserves of 293 mmboe, 310 net sections (155 net Montney sections), and 240 mmcf/d of incremental takeaway capacity through the purchase of Paramount Resources’ Musreau assets in a cash, share, and debt assumption deal worth a combined $1.9 billion. Our proforma outlook highlights the deal as 2% and 3% accretive to CFPS in 2016e/2017e respectively, while our RENAV estimate grows to $36.53 per share. Given the increase to our cash flow and reserve/resource value forecasts, we are increasing our target price to $33.00 per share (previously $30.00 per share) while reaffirming an 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.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Opuama production restarts
21 Feb 17
Eland has confirmed the successful restart of exports from OML 40 through the new shipping alternative that it has implemented. Sales from the export terminal are expected imminently, re-establishing cash generation for Eland. Cash at YE16 was US$11.1m which has since reduced to US$5.9m, mainly reflecting initial operating expenses for the shipping alternative. While it is early days, Eland has demonstrated its ability to restart exports and production from OML 40 following the shut-down of the Forcados terminal a year ago. Production to date is averaging around 7kbd and we expect that to ramp up as Opuama operational performance improves. At US$55/bbl Brent, we estimate Eland is generating a net cash margin of around US$25/bbl. We reiterate our Buy recommendation and 95p per share Target Price.
Small Cap Breakfast
24 Feb 17
GBGI—Schedule One update from integrated provider of international benefits insurance. Raising £32m at 150p. Admission expected tomorrow. Anglo African Oil & Gas— Admission expected early March. Acquiring stake in producing near offshore field in the Republic of the Congo. Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb.
Operating update and shareholder activism
15 Feb 17
December and January have seen the emergence of shareholder activism at Bowleven (BLVN), bringing its strategy and management into greater focus. Its largest shareholder (Crown Ocean Capital, COC) evolved from being a supportive shareholder to voting against a number of resolutions at the December AGM, to recently calling for the widespread removal of the board and a radically different company structure. Operationally, the company reports that a new development concept is under review by the stakeholders in Etinde, where production would be piped to existing gas processing facilities in Equatorial Guinea. Such a solution would (if approved) require significantly less capex and could be brought online relatively quickly vs other solutions (fertiliser, FLNG, gas to power). We leave our valuation largely unchanged, save for a revision to cash holding to reflect the recent operational update. Our new core NAV is 49p/share.