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BRIEF-Perpetual Energy Inc Reports First Quarter Loss Per Share Of $0.08

Published 2019-05-08, 08:32 a/m
BRIEF-Perpetual Energy Inc Reports First Quarter Loss Per Share Of $0.08
PMT
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May 8 (Reuters) - Perpetual Energy Inc PMT.TO :

* REPORTS FIRST QUARTER 2019 FINANCIAL AND OPERATING RESULTS

* QTRLY HEAVY OIL PRODUCTION IN EASTERN ALBERTA GREW 30% RELATIVE TO PRIOR YEAR Q1

* QTRLY PRODUCTION AVERAGED 10,240 BOE/D IN Q1 OF 2019, DOWN 20% FROM COMPARABLE PERIOD IN 2018

* QTRLY CASH FLOW FROM OPERATING ACTIVITIES $9.3 MILLION

* QTRLY REALIZED REVENUE WAS $24.24/BOE IN Q1 OF 2019, 16% HIGHER THAN COMPARATIVE PERIOD OF 2018

* QTRLY LOSS PER SHARE $0.08

* QTRLY ADJUSTED FUNDS FLOW IN Q1 OF 2019 OF $0.11 PER SHARE

* PERPETUAL'S FY 2019 CAPITAL EXPENDITURE AND ADJUSTED FUNDS FLOW GUIDANCE REMAINS UNCHANGED

* PERPETUAL ENERGY - IN EASTERN ALBERTA, FY PRODUCTION IS FORECAST TO INCREASE BY 20% TO 30% FROM 2018, TO RANGE OF 2,200 TO 2,400 BOE/D IN 2019

* CASH COSTS OF $17.00 TO $18.00/BOE ARE FORECAST FOR 2019

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