Q1 Earnings
I am having a difficult time figuring out a negtive scenario for the Q1 earnings on May 6.
Positives
AFF will be much higher than expected. I expect $35M (I do not know what the street expects). Crew forecasted $95M for the entire 2021.
Production was projected at 25,500 to 26,500 boe/d for Q1. If some wells came in production before April 1, we should be at the high end of the range, if not higher.
Q2 production should be well over 30,000boe/d.
Average price for condensate was U$59 in Q1 and we are slightly over U$60 so far in Q2. Crew's projection for 2021 assumes WTI at U$45.
Crew assumes C$2.60 for AECO for 2021. We were way ahead in Q1 and are ahead in Q2.
Negatives
Debt will have gone up.
If I were a day trader, I would definitively buy on May 6 before the close.
But, TD still finds clients willing to sell below $1.00. :-)