Granite Oil Corp GXOCF

Energy

Granite Oil Corp is a Canada-based oil producer based in Calgary, Alberta with lands and operations located in southern Alberta. The company is engaged in the exploration for and exploitation, development, and production of oil and natural gas. Its Alberta Bakken Properties are located in southern Alberta at the south of Lethbridge.

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Granite Oil Corp

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Post by splurgeon Jun 14, 2017 10:41am

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Post# 26361059

Granite divy

My model uses $46 for balance of year and $00.76 dollar. 2992 boes per day average with cap ex
dropping significantly to $14 or $13.5 mln net. Payout was 138% in q1 roughly and will drop to 105 to 110% for balance of year if they are able to reduce cap ex significantly. They budgeted $16 mln but had $3 million in exploration which could be reduced. We shall see. If so then the divy might not be cut as I would think they could wait to see if oil prices recover a few bucks. There hedges worked against then in Q1 but seconf half are in their favor. Debt goes up to $35.2 million year end 2017 which is manageable.
splurge