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Pengrowth Energy Corporation Message Board

  • augustusgloop augustusgloop Apr 18, 2013 3:57 PM Flag

    Free Cash Flow, Not Just PGH's Problem

    Singling out PGH for not generating free cash flow is a bit of a cheap shot, given the price per barrel the majors (esp. CVX, COP, BP) require to self fund cap ex & dividends. See today's post on Zero Hedge. Here is a snippet (not including the very good graph):

    Given the dramatic drops in gold and oil prices over the past few trading sessions, we thought it worth examining which miners and oil producers were most 'at risk' of generating negative cash flows at current and long-term prices. Goldman Sachs looks at 40 oil producers and 25 gold mines to create a complete 'cost curve' in terms of the best indication of what it actually costs to keep operations running. It is quite apparent that ~$85 Crude and ~$1150 Gold are key to the ongoing support for these industries.

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