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BRIEF-Perpetual Energy Inc reports third quarter results

Published 2018-11-08, 08:30 a/m
Updated 2018-11-08, 08:40 a/m
© Reuters.  BRIEF-Perpetual Energy Inc reports third quarter results

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

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* 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

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