Post by
Justhalffull on Aug 12, 2021 3:02am
Results
For Q2. PPR repoers earnings of .16 per diluted share. Where can you find a company earning 16 cents for the quarter trading for 6 and 1/2 cents? Netbacks upnearly 1300% over last year. Would have been even more but for as suspected, required hedging. 2 new wells coming on within neat month with expected increase in production for balance of 2021. SP should be triple the current price.
Comment by
filefish on Aug 12, 2021 5:55am
PPR is at .065 because its debt went up, not down in Q2. One of the few E&P's who did not manage to reduce.
Comment by
Ikeros on Aug 12, 2021 6:18am
Debt went down from Q1 and it will continue to go down during the rest of the year. Can not understand the current market value even without the NAFTA desicision which should come any day now.
Comment by
Justhalffull on Aug 12, 2021 7:54am
I'm afraid debt did not go down from Q1. In fact, it is up about $800,000, due to deferred interest charges.
Comment by
maramos98 on Aug 12, 2021 8:52am
They appear to be prioritizing drilling new wells over paying down the debt.
Comment by
Justhalffull on Aug 12, 2021 9:13am
With oil and gas prices at these levels, they have to get their production levels up to generate cash flow if they want to pay down debt.
Comment by
Amameal on Aug 12, 2021 9:15am
Looks like they are smart and making good decision. I hope they can pay down the high interest rate debt sooner rather than later.