TRILOGY ENERGY CORP. $6.17 (Toronto symbol TET; TSINetwork Rating: Speculative) (403-290-2900; www.trilogyenergy.com; Shares outstanding: 105.3 million; Market cap: $813.3 million; No dividends paid) owns oil and gas properties in central Alberta’s Kaybob and Grande Prairie areas. About 64% of the company’s production is natural gas. The remaining 36% is oil.
In the three months ended March 31, 2016, Trilogy produced 22,786 barrels of oil equivalent a day (including gas). That’s down 31.0% from 33,041 barrels a year earlier.
While waiting for oil and gas prices to recover, the company made deep cuts to its exploration and development spending in 2015. That continued in the latest quarter, and led to another drop in production.
Less output—combined with lower oil and gas prices—reduced cash flow per share to $0.07 from $0.27 a year earlier.
Trilogy ended the quarter with long-term debt of $544.8 million, or a high 67% of its $813.3 million market cap.
The company’s long-term outlook is positive, mainly because it holds high-quality exploration lands…
Privacy Policy and Terms of Use
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Changes to this Policy
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