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Penn West Petroleum Ltd. Message Board

al_bundy2k 1 post  |  Last Activity: Jul 30, 2015 9:51 AM Member since: Dec 18, 1999
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  • al_bundy2k by al_bundy2k Jul 30, 2015 9:51 AM Flag

    Still selling so called "non-core assets", borrowing to pay a so called "divvy", and outspending their cash flow. Six years, three different CEO's, and still following the same plan.

    From the report, "Consequently, the Company is updating its funds flow from operations guidance range from $500 - $550 million to $350 - $400 million . The decrease in funds flow from operations guidance is largely attributed to lower benchmark oil and natural gas prices, although continued weakness in NGL realizations in the second half of 2015 could have a further impact on reported funds flow from operations. Additionally, the capital budget has been reduced from $625 million to $575 million as a result of a deferral of certain projects and reduced cost estimates."

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