Brief: Perpetual Energy Reports First Quarter 2020 Financial And Operating Results

Perpetual Energy

05/05/2020 01:11

May 4 (Reuters) - Perpetual Energy Inc  PMT.TO :
    * PERPETUAL ENERGY INC. REPORTS FIRST QUARTER 2020 FINANCIAL
AND
OPERATING RESULTS
    * PERPETUAL ENERGY INC - PRODUCTION AVERAGED 7,479 BOE/D IN
Q1 OF
2020, DOWN 27% FROM COMPARABLE PERIOD IN 2019 AND DOWN 6% FROM
Q4 OF 2019
    * PERPETUAL ENERGY INC - REALIZED REVENUE WAS $13.88/BOE IN
Q1 OF
2020, 43% LOWER THAN COMPARATIVE PERIOD OF 2019 ($24.24/BOE)
    * PERPETUAL ENERGY INC - IMPACT OF COVID-19, COUPLED WITH
SAUDI
ARABIA AND RUSSIA INDUCED OIL PRICE SHOCK, DRAMATICALLY IMPACTED
PERPETUAL'S OPERATIONS
    * PERPETUAL ENERGY-FURTHER CAPEX IN 2020 IN EASTERN ALBERTA
TO BE
DEFERRED,CO'S HEAVY OIL PRODUCTION TEMPORARILY SUSPENDED PENDING
OIL PRICES RECOVERY
    * PERPETUAL ENERGY - ASSUMING MID-YEAR RECOVERY OF OIL
PRICES, CO
ANTICIPATES AVERAGE 2020 SALES VOLUMES OF 4,500 TO 5,500 BOE/D
(25% LIQUIDS)

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

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