GREY:WFREF - Post by User
Comment by
lessspikeon Jul 29, 2015 9:26pm
137 Views
Post# 23974225
RE:Debt was reduced by $40 mil since Q1
RE:Debt was reduced by $40 mil since Q1Net debt at end of Q4/14 was $739 million so $30million decline since then.
The market should like this. Everything is going according to plan although the market will be a lot happier when the company resolves how they are going to deal with the $145 million debt repayment that isn't coming from cash flow.
The only negative is the fairly rapid decline in production from 35k boes at end of Q1 to 31.5k boes at end of Q2. However, the company continues to guide 32-33k average for the year which means they are looking for an approx average of 30k boes/day for the second half. Q3 will likely look ugly around 28-29k boes/day until Q4 brings on new production.