Blue Skying Q1-14: Take 2
Production: 9.7 M bbls
SCO average Price $107. (Current average $107)
Revenue $1.04 B
Capex $300M, i.e. 62¢/shr
Divy 35¢/shr
Total 97¢/shr
Cash Flow: $460 M, i.e. 95¢/shr
Cash burn: 2 cents/shr
Total cash burn: $10 M
It would have been nice to have higher production rate than 105,200 in Feb. Even at that rate, March would provide 3.2 M barrels. That is what I used for March.
If COS can sustain this rate and price for 3 qtr, that will only use up a total of $30 M. It will need more for the turnaround qtr. At this rate it is difficult to see using up much more than $150 M. That would leave about $650 M in cash at the end of the year. If I my estimate is reasonable, I can see an initial increase to 40 cents in Q3.
Namsoc