Tourmaline has lowered its 2016e production guidance by ~4% at the mid-point as a result of third party infrastructure issues and deferral of well completions due to low gas prices. We’ve adjusted our 2016e production outlook to the higher end of the revised range, which results in a 3% reduction to cash flow for the year. Our 2017e outlook is unchanged and remains conservatively below Management guidance. We have modestly reduced our 12-month target price to $43.50 per share (from $43.75 per ....
16 Jun 2016
Tourmaline Revises 2016 Production Guidance, Provides Operations Update
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Tourmaline Revises 2016 Production Guidance, Provides Operations Update
Tourmaline Oil Corp. (TOU:TSE) | 0 0 2.9% | Mkt Cap: 5,137m
- Published:
16 Jun 2016 -
Author:
Stephane Foucaud -
Pages:
6
Tourmaline has lowered its 2016e production guidance by ~4% at the mid-point as a result of third party infrastructure issues and deferral of well completions due to low gas prices. We’ve adjusted our 2016e production outlook to the higher end of the revised range, which results in a 3% reduction to cash flow for the year. Our 2017e outlook is unchanged and remains conservatively below Management guidance. We have modestly reduced our 12-month target price to $43.50 per share (from $43.75 per ....