Market Impact: Neutral. While 2Q15 production of 1,786 bbl/d was below expectations, funds flow from operations of approximately $0.8 mm or $0.01 per share was relatively in line with our estimates. We continue to be encouraged by the Company's divestitures of non-core assets, which have improved the balance sheet. Year-to-date, Touchstone has announced divestitures totaling $8.5 mm and we estimate only very modest net debt of $1 mm by year-end 2015e.
13 Aug 2015
TOUCHSTONE EXPLORATION INC. (TXP) REPORTS 2Q15 RESULTS
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TOUCHSTONE EXPLORATION INC. (TXP) REPORTS 2Q15 RESULTS
Touchstone Exploration Inc (TXP:LON) | 43.5 0 0.0% | Mkt Cap: 101.9m
- Published:
13 Aug 2015 -
Author:
Darren B. Engels -
Pages:
2
Market Impact: Neutral. While 2Q15 production of 1,786 bbl/d was below expectations, funds flow from operations of approximately $0.8 mm or $0.01 per share was relatively in line with our estimates. We continue to be encouraged by the Company's divestitures of non-core assets, which have improved the balance sheet. Year-to-date, Touchstone has announced divestitures totaling $8.5 mm and we estimate only very modest net debt of $1 mm by year-end 2015e.