Thursday, June 9, 2016

Penn West Petroleum Ltd. - PWT.t

Penn West Petroleum Ltd. - PWT.t is one of the largest conventional oil and natural gas producers in Canada.

Based in Calgary, Penn West operates a significant portfolio of light oil in Canada on a land base encompassing approximately five million acres.




On May 16, 2016 the company released News

"PENN WEST PETROLEUM LTD. (TSX – PWT; NYSE – PWE.BC) ("Penn West", the "Company", "we", "us" or "our") is pleased to announce its financial and operational results for the first quarter ended March 31, 2016. All figures are in Canadian dollars unless otherwise stated.





Three months ended March 31



2016

2015
% change
Financial
(millions, except per share amounts)






Gross revenues (1,2)

$
231
$
340
(32)
Funds flow (2)


89

112
(21)

Basic per share (2)


0.18

0.22
(18)

Diluted per share (2)


0.18

0.22
(18)
Funds flow from operations (2)


47

77
(39)

Basic per share (2)


0.09

0.15
(40)

Diluted per share (2)


0.09

0.15
(40)
Net income (loss)


(100)

(248)
(60)

Basic per share


(0.20)

(0.49)
(59)

Diluted per share


(0.20)

(0.49)
(59)
Capital expenditures (3)


18

191
(91)
Long-term debt at period-end

$
1,858
$
2,426
(23)














Operations






Daily production







Light oil and NGL (bbls/d)


40,572

52,448
(23)

Heavy oil (bbls/d)


12,440

12,895
(4)

Natural gas (mmcf/d)


144

177
(19)
Total production (boe/d) (4)


77,010

94,905
(19)
Average sales price







Light oil and NGL (per bbl)

$
34.49
$
46.11
(25)

Heavy oil (per bbl)


14.76

30.20
(51)

Natural gas (per mcf)

$
1.96
$
3.08
(36)
Netback per boe (4)







Sales price

$
24.22
$
35.34
(31)

Risk management gain (loss)


5.75

3.44
67

Net sales price


29.97

38.78
(23)

Royalties


(1.07)

(4.30)
(75)

Operating expenses (5)


(13.02)

(18.61)
(30)

Transportation


(1.63)

(1.35)
21
Netback (2)

$
14.25
$
14.52
(2)











http://pennystockjournal.blogspot.com/2016/03/penn-west-petroleum-ltd-pwtt.html