Post by
MyHoneyPot on Jul 29, 2021 4:49pm
TOU G&A Expense
Total G&A expenses in the second quarter of 2021 were $20.7 million compared to $17.1 million for the same quarter of 2020. For the six-month period ended June 30, 2021, G&A expenses were $44.1 million compared to $33.4 million for the same period of 2020. The increase is primarily due to staff additions, additional office space, and other costs related to corporate and property acquisitions as well as higher third-party service provider fees and increased costs related to industry marketing initiatives. G&A expenses for 2021 are expected to average approximately $0.60/boe. Actual costs per boe can change, however, depending on a number of factors including the Company’s actual production levels.
ARC management expenses are way way higher than this, ARC needs to reduce this costs that totaled $1.61 a boe in Q1 with share based compensation included.
Comment by
Beakr123 on Jul 29, 2021 4:53pm
MHP do you have a similar G&A comparison for a company other than TOU that you can post? TOU in particular has always focused on being a lean company and is probably an example of an industry leader rather than a gauge of what would be an industry average for comparable companies.
Comment by
hoffbag on Jul 29, 2021 4:57pm
Benchmark is always the best, no?
Comment by
Beakr123 on Jul 29, 2021 4:59pm
Further to this Arc is coming off of a massive merger so I'd anticipate G&A costs will take time to whiddle down.