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.
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.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
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.