Trinity released its Q1 operational update this morning. Production is slightly down QoQ (-6%) as no new drilling took place but is inline with expectations and FY19 guidance remains unchanged at 3-3.3kbopd. Having reset its balance sheet, and boosted EBITDA/bbl margins by 169% over the last two years, Trinity’s next steps will be to boost IP rates (potentially through HAWs) and deliver the material offshore TGAL development. We remain BUY.
17 Apr 2019
Q119 update
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Q119 update
Trinity Exploration & Production Plc (TRIN:LON) | 39.0 0 0.0% | Mkt Cap: 15.1m
- Published:
17 Apr 2019 -
Author:
Jessica Saadat -
Pages:
4
Trinity released its Q1 operational update this morning. Production is slightly down QoQ (-6%) as no new drilling took place but is inline with expectations and FY19 guidance remains unchanged at 3-3.3kbopd. Having reset its balance sheet, and boosted EBITDA/bbl margins by 169% over the last two years, Trinity’s next steps will be to boost IP rates (potentially through HAWs) and deliver the material offshore TGAL development. We remain BUY.