RE:gwplant, in response to your post...........Wrong again donkey...92.1% is "projected" for this year, you have pointed out a company with a long history of dividend paying...all of 6 months. Next...
Surge 2014E Guidance2 3
As a result of continued successful drilling results, accretive acquisitions, and optimization/waterflood activities, Surge is well positioned to meet or exceed the Company's 2014 guidance estimates as set forth below:
Operational:
| | |
| 2014E Average Production (boe/d) | 15,250 (83% Oil/NGLs) |
| 2014E Exit Production (boe/d) | 15,500 (83% Oil/NGLs) |
| RLI (based on 2013E exit production) | >12.5 years |
| 2014E Capital Spending | $114.5 million |
| 2014E Wells Drilled (gross/net) | 38/36.1 wells |
| 2014 Decline | 24% |
Financial:
| | |
| 2014E Funds from Operations ("FFO") | $221 ($1.33 per share) |
| 2014E Operational Netback | $44.04/boe |
| 2014E Cash Flow Netback | $39.69/boe |
| Basic Shares Outstanding | 167 million |
| Annual Dividend | $87 million |
| Annual Dividend per share | $0.52 |
| Yield4 | 7.8% |
| Basic Payout Ratio 2014E | 39.6% |
| "All-in" Payout Ratio | 92.1% |
| 2014E Exit Net Debt | $287 million |
| 2014E Exit Net Debt/FFO | <1.39x |
| Bank Line | $470 million |