With this publication we highlight forecast revisions stemming from an interim commodity price update centered around the crude oil pricing complex. Moves for crude oil weighted producers are significant, with 2016e cash flows down 12%-15%, and portended NAVs reduced sizably on the employment of a materially lower terminal value within the scope of the forecast period, though not reflective of the potential attrition in E&D capital investment and dividend policy should the current forward strip ....

31 Aug 2015
INTERMEDIATES, MID CAPS & SMALL CAPS - Crude Oil Downdraft, Though Remain Far More Constructive Than Current Forward Strip Would Suggest
Advantage Energy Ltd (0UG9:LON), 0 | Baytex Energy Corp. (BTE:TSE), 0 | Bonavista Energy (BNP:TSE), 0 | Veren Inc. (0UR7:LON), 0 | Paramount Resources Ltd. Class A (POU:TSE), 0 | Peyto Exploration & Development Corp. (0VCO:LON), 0 | Pengrowth Energy (PGF:TSE), 0 | PrairieSky Royalty Ltd (PSK:TSE), 0 | Penn West Petroleum (PWT:TSE), 0 | Tourmaline Oil Corp. (TOU:TSE), 0 | Vermilion Energy Inc. (VET:TSE), 0 | Whitecap Resources Inc. (WCP:TSE), 0 | Bonterra Energy Corp. (BNE:TSE), 0 | Cardinal Energy Ltd. (CJ:TSE), 0 | Delphi Energy (DEE:TSE), 0 | Journey Energy, Inc. (JOY:TSE), 0 | Kelt Exploration Ltd. (KEL:TSE), 0 | NuVista Energy Ltd. (NVA:TSE), 0 | PAINTED PONY PETROLEUM (PPY:TSE), 0 | Pine Cliff Energy Ltd. (PNE:TSE), 0 | Raging River Exploration (RRX:TSE), 0 | RMP Energy (RMP:TSE), 0 | Surge Energy Inc. (SGY:TSE), 0 | CHINOOK ENERGY (CKE:TSE), 0 | IKKUMA RESOURCES (IKM:TSE), 0 | LGX Oil + Gas, Inc. (ROAOF:OTC), 0 | MARQUEE ENERGY (MQL:TSE), 0 | STRIKER EXPLORATION (SKX:TSE), 0 | Tamarack Valley Energy Ltd. (TVE:TSE), 0 | Yangarra Resources Ltd. (YGR:TSE), 0 | YOHO RESOURCES (YO:TSE), 0 | Cyprium Metals Limited (CYM:ASX), 0 | Lar Espana Real Estate SOCIMI, S.A. (0QRL:LON), 0 | R.E.A. Holdings plc (RE:LON), 72.2 | Treatt plc (TET:LON), 280

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INTERMEDIATES, MID CAPS & SMALL CAPS - Crude Oil Downdraft, Though Remain Far More Constructive Than Current Forward Strip Would Suggest
Advantage Energy Ltd (0UG9:LON), 0 | Baytex Energy Corp. (BTE:TSE), 0 | Bonavista Energy (BNP:TSE), 0 | Veren Inc. (0UR7:LON), 0 | Paramount Resources Ltd. Class A (POU:TSE), 0 | Peyto Exploration & Development Corp. (0VCO:LON), 0 | Pengrowth Energy (PGF:TSE), 0 | PrairieSky Royalty Ltd (PSK:TSE), 0 | Penn West Petroleum (PWT:TSE), 0 | Tourmaline Oil Corp. (TOU:TSE), 0 | Vermilion Energy Inc. (VET:TSE), 0 | Whitecap Resources Inc. (WCP:TSE), 0 | Bonterra Energy Corp. (BNE:TSE), 0 | Cardinal Energy Ltd. (CJ:TSE), 0 | Delphi Energy (DEE:TSE), 0 | Journey Energy, Inc. (JOY:TSE), 0 | Kelt Exploration Ltd. (KEL:TSE), 0 | NuVista Energy Ltd. (NVA:TSE), 0 | PAINTED PONY PETROLEUM (PPY:TSE), 0 | Pine Cliff Energy Ltd. (PNE:TSE), 0 | Raging River Exploration (RRX:TSE), 0 | RMP Energy (RMP:TSE), 0 | Surge Energy Inc. (SGY:TSE), 0 | CHINOOK ENERGY (CKE:TSE), 0 | IKKUMA RESOURCES (IKM:TSE), 0 | LGX Oil + Gas, Inc. (ROAOF:OTC), 0 | MARQUEE ENERGY (MQL:TSE), 0 | STRIKER EXPLORATION (SKX:TSE), 0 | Tamarack Valley Energy Ltd. (TVE:TSE), 0 | Yangarra Resources Ltd. (YGR:TSE), 0 | YOHO RESOURCES (YO:TSE), 0 | Cyprium Metals Limited (CYM:ASX), 0 | Lar Espana Real Estate SOCIMI, S.A. (0QRL:LON), 0 | R.E.A. Holdings plc (RE:LON), 72.2 | Treatt plc (TET:LON), 280
- Published:
31 Aug 2015 -
Author:
Michael P. Dunn -
Pages:
22 -
With this publication we highlight forecast revisions stemming from an interim commodity price update centered around the crude oil pricing complex. Moves for crude oil weighted producers are significant, with 2016e cash flows down 12%-15%, and portended NAVs reduced sizably on the employment of a materially lower terminal value within the scope of the forecast period, though not reflective of the potential attrition in E&D capital investment and dividend policy should the current forward strip ....