"First Quarter Highlights for Fiscal Year 2016 (ended April 30, 2015)
Quarterly production volumes of ~1,226 Mboe (13,775 Boepd)
Increasing full fiscal year 2016 production guidance to a range of 11,500-13,500 Boepd
No change to previously issued capital expenditure guidance
Further increases to production guidance will be considered as fiscal year 2016 progresses
Triangle USA Petroleum ("TUSA") driving continued reduction in drilling and completion costs
Leading edge AFEs $7.3 million as of May 2015
Consolidated cash flow from operations (before working capital changes) of $31.4 million, or $0.42 per fully diluted share; Operating cash flow of $39.3 million
23% quarter over quarter decrease in consolidated cash general and administrative expenses
Consolidated adjusted revenue of $137.8 million including $19.5 million of cash receipts from hedge settlements
Consolidated adjusted-EBITDA of $38.8 million
$305.0 million of total liquidity as of April 30, 2015, including $50.3 million of cash on hand and available borrowing capacity on the TUSA and RockPile Energy Services ("RockPile") credit facilities
RockPile's estimated share of Williston Basin completion activity increased to approximately 15%, up from approximately 5% in Q1 fiscal 2015
Completed record number of wells in quarter including 50 for third parties and 5 for TUSA
RockPile generated over $5 million of stand-alone EBITDA in the month of April
Completed 730 stages, which is 40% more stages than the previous single month record
Caliber Midstream Phase I and Phase II system for Triangle complete and fully operational
Proactively amended TUSA's existing senior credit facility and modified certain covenants to further enhance TUSA's financial flexibility"
I believe he was referring to your buddy 'Mook'. Anyway, I'll basically say the same to you as I did to 'Mook'....
Why are you here if you're down on PVA? Is it because you're stuck? Is it because you're short? Or could it be that you're just a BB who likes to be a mosquito on peoples' faces?
Well, since you seem to enjoy correcting others, I thought I'd chime in by correcting you...
This is what you posted on the PVA board:
"This pos is headed for $0 -- I'm talking bankruptcy. No one wants to buy it, even at these levels. They know they can cherry pick the assets for pennies on the dollar once it goes under. Please turn out the lights if you're the last one left!!"
"Cherry pick???" Uh, it's cherry-pick. You might want to use 'spell check' in the future. Especially if you post again on the PVA board.
In your face, pal......lol
Funny, but if I was as down on this stock as you are I would sell and not participate in posting.
Oh, wait, I forgot, you're short. Duh me!!!
To answer your question, the following piece came out today:
"OPEC will maintain its production target next week, Libya’s deputy vice prime minister for energy said, joining Kuwait in predicting no policy change when oil ministers from the 12-member group meet in Vienna.
The output target will remain 30 million barrels a day, Mohammad Oun, Libya’s deputy vice prime minister for energy, said by phone Thursday from al-Bayda, eastern Libya. Oun will be part of Libya’s delegation to the June 5 meeting. OPEC is working on a long-term strategy draft to present next week that is likely to show projections of crude supply from non-OPEC producers are the same as those forecast in 2014, he said.
“The target number will not change,” Oun said. Libya is pumping 400,000 barrels of oil a day, state-run National Oil Corp. spokesman Mohamed Elharari said in a phone interview Thursday. That makes Libya the smallest producer in OPEC.
The Organization of Petroleum Exporting Countries will meet to decide on the group’s production target for the next six months amid a glut that sent prices down about 50 percent last year. Saudi Arabia, the group’s biggest exporter, led OPEC’s decision in November to maintain its output target to defend market share amid booming U.S. shale supplies.
Brent crude added 66 cents to $63.24 a barrel at 10:26 a.m. London time on Friday. Prices have climbed 10 percent this year.
Libya joined Kuwait in predicting no change to policy after Abdulmajeed Al-Shatti, a member of Kuwait’s Supreme Petroleum Council, said on May 12 that the organization will “stick with” its present strategy. Kuwait is OPEC’s fourth biggest crude producer, according to data compiled by Bloomberg. Iran’s Oil Minister Bijan Namdar Zanganeh has only said it’s “unlikely” OPEC’s output ceiling will change, according to Mehr news agency."
Answer: Four consecutive days of lower highs and lower lows.......
And earnings is right around the corner. Can we at least have a run up???
"Also as well as informed as you appear to be......."
Informed? His/her post was a copy and paste job. He forgot (?) to put it in quotes. :-)
"May 21 2015, 10:51 ET | About: Penn Virginia Corporation (PVA) | By: Carl Surran, SA News Editor Contact this editor with comments or a news tip
Penn Virginia's (PVA +3.1%) stock price target is cut to $7 from $9 at Imperial Capital, but the firm remains bullish on the Outperform-rated company and raises its 2015 estimates due to increased production guidance and a lower cost structure.The firm notes PVA is raising its 2015 crude oil production guidance due to an increased emphasis on Gonzales County, where the company has the highest returns, and that PVA looks to have turned the corner on completion issues that had hurt its development.The firm continues to believe that with its sizable inventory, PVA is an attractive acquisition candidate, and that dissident shareholders favor PVA being sold."