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Companies >
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Ecopetrol SA >
Research >
Reports Decreasing Production But Better than Expected Cash Flow in 1Q16

  • 04 May 2016

Reports Decreasing Production But Better than Expected Cash Flow in 1Q16


Ecopetrol SA (ECOPETROL:BOG) | 0 0 0.0%


  • Stifel FirstEnergy
    • Darren B. Engels

    • 7 pages

Oil & Gas - Integrated image


 
Oil & Gas - Integrated image


Ecopetrol reported 1Q16 production of 736,600 boe/d (FCC 748,932 boe/d); however, cash flow was stronger at US$856 mm (FCC US$507 mm), due to a reduction in the purchase of hydrocarbons and lower contracted services, maintenance and labour costs. The Company recently announced revised 2016e production guidance of 715,000 boe/d, due to a reduction in capital spending that is now expected to range between US$3.0 and US$3.4 billion. We have reduced our target price to US$8.50 per share, while maint ....

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Reports Decreasing Production But Better than Expected Cash Flow in 1Q16


Ecopetrol SA (ECOPETROL:BOG) | 0 0 0.0%


  • Published: 04 May 2016
  • Author: Darren B. Engels
  • Pages: 7
  • Stifel FirstEnergy


Ecopetrol reported 1Q16 production of 736,600 boe/d (FCC 748,932 boe/d); however, cash flow was stronger at US$856 mm (FCC US$507 mm), due to a reduction in the purchase of hydrocarbons and lower contracted services, maintenance and labour costs. The Company recently announced revised 2016e production guidance of 715,000 boe/d, due to a reduction in capital spending that is now expected to range between US$3.0 and US$3.4 billion. We have reduced our target price to US$8.50 per share, while maint ....


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