Impact: Positive. Raging River's accretive acquisition of Anegada Energy for $126 mm adds ~280 net high quality Viking locations to the Company's drilling inventory at strong metrics. In addition, the Company's initial 2016e budget and guidance, including $190 mm in capital spending and annual volumes of 17,000 boe/d, appears in-line with our prior outlook after accounting for 2,750 boe/d of acquired Anegada production. Preliminary 2016e CFPS accretion would be approximately +4% per diluted sha ....

11 Dec 2015
RAGING RIVER EXPLORATION INC. (RRX) ANNOUNCES $126 MILLION CORPORATE VIKING ACQUISITION AND 2016 CAPITAL BUDGET OF $190 MILLION

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RAGING RIVER EXPLORATION INC. (RRX) ANNOUNCES $126 MILLION CORPORATE VIKING ACQUISITION AND 2016 CAPITAL BUDGET OF $190 MILLION
Raging River Exploration (RRX:TSE) | 0 0 (-2.0%) | Mkt Cap: 1,478m
- Published:
11 Dec 2015 -
Author:
Robert Fitzmartyn -
Pages:
3 -
Impact: Positive. Raging River's accretive acquisition of Anegada Energy for $126 mm adds ~280 net high quality Viking locations to the Company's drilling inventory at strong metrics. In addition, the Company's initial 2016e budget and guidance, including $190 mm in capital spending and annual volumes of 17,000 boe/d, appears in-line with our prior outlook after accounting for 2,750 boe/d of acquired Anegada production. Preliminary 2016e CFPS accretion would be approximately +4% per diluted sha ....