Brief: Perpetual Energy Inc reports third quarter results

Perpetual Energy

08/11/2018 13:30

Nov 8 (Reuters) - Perpetual Energy Inc  PMT.TO :
    * PERPETUAL ENERGY INC. RELEASES THIRD QUARTER 2018
FINANCIAL AND
OPERATING RESULTS AND PROVIDES 2019 GUIDANCE
    * PERPETUAL ENERGY INC SEES 2018 EXPLORATION AND DEVELOPMENT
CAPITAL EXPENDITURES OF APPROXIMATELY $25 TO $26 MILLION
    * PERPETUAL ENERGY INC SEES MANNVILLE HEAVY OIL DRILLING
PROGRAM
FOR H2 2018 OF 3.0 NET WELLS, PLUS ONE RE-ENTRY
    * PERPETUAL ENERGY INC SEES PRODUCTION FOR 2018 TO BE 10,250
BOE/D
TO 10,750 BOE/D, DOWN SLIGHTLY FROM Q3 GUIDANCE
    * PERPETUAL ENERGY INC - CASH COSTS OF $15.00 TO $15.50/BOE
ARE
NOW ANTICIPATED FOR 2018, UP SLIGHTLY FROM Q3 GUIDANCE
    * PERPETUAL ENERGY - ADJUSTED FUNDS FLOW FOR 2018
ANTICIPATED TO
BE IN $27 TO $29 MILLION RANGE, CONSISTENT WITH Q3 GUIDANCE
    * PERPETUAL ENERGY INC - SEES ADJUSTED FUNDS FLOW FOR 2018
FROM
$0.44 TO $0.48 PER SHARE
    * PERPETUAL ENERGY INC - YEAR END 2018 NET DEBT IS FORECAST
AT
$104 - $107 MILLION, UP FROM Q3 GUIDANCE
    * PERPETUAL ENERGY INC SEES TOTAL CAPITAL SPENDING PROGRAM
OF $21
TO $25 MILLION FOR 2019 TO BE FUNDED FROM ADJUSTED FUNDS FLOW
    * PERPETUAL ENERGY INC - COMPANY HAS MINIMAL CAPITAL
SPENDING
PLANNED FOR H1 2019
    * PERPETUAL ENERGY INC - H2 OF 2019 PROGRAM PLANNED TO ALIGN
OPERATIONS WITH HIGHER ANTICIPATED COMMODITY PRICES
    * PERPETUAL ENERGY - SEES 2019 AVERAGE PRODUCTION OF 9,200
TO
9,600 BOE/D, WITH OIL AND NGL PRODUCTION GROWING TO REPRESENT
ABOUT 22% OF PRODUCTION MIX
    * PERPETUAL ENERGY - EXPECTS TO EXIT 2019 AT OVER 11,500
BOE/D
PRODUCTION
    * PERPETUAL ENERGY INC - CASH COSTS OF $17.00 TO $18.00/BOE
ARE
FORECAST FOR 2019, UP ABOUT 13% TO 16% FROM 2018 GUIDANCE
    * PERPETUAL ENERGY INC QTRLY LOSS PER SHARE $0.20
    * PERPETUAL ENERGY - QTRLY AFFO PER SHARE $0.09
    * PERPETUAL ENERGY INC QTRLY OIL AND NATURAL GAS REVENUE
$20.5
MILLION VERSUS $20.0 MILLION
    * PERPETUAL ENERGY - ALL FIGURES ARE IN CANADIAN DOLLARS

Source text for Eikon:  ID:nCNWZHGWna 
Further company coverage:  PMT.TO 

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