≡ Menu

Trilogy Energy Corporation Q2 Results Announced

Canadian brokerage firm GMP Securities downgraded Trilogy Energy Corp (TET-TSX; TETZF-PINK) from a BUY to a HOLD today, but did not reduce its target price of $27.50 per share.  The stock closed at $27.25 on Tuesday, and GMP said the downgrade was because the stock has already hit its target price.  The stock recently hit $29 after coming up from a low of $10.02 in the last year.

Trilogy announced its Q2 results on Tuesday August 2.  It averaged 29,320 barrels of oil equivalent per day as compared with 25,362 boe per day for Q1 – a 16-per-cent increase quarter over quarter. The company increased oil and natural gas liquids production to 25 per cent of total production.  The company hit on 100% of its wells.

GMP did lower its fully diluted cash flow per share for 2011 from based on the Q2/11 results  – (specifically a lower 2011 liquids weighting), to $1.85 from $1.91.

Trilogy re-iterated its guidance to the market for average production in 2011 to be 30,000 boe/d, average operating costs of $7.75 per boe and capital expenditures (drilling and equipment costs) of $285 million.

 

 



[[T_F]]Data Leak Prevention – Data Security Solutions – Information Theft Protection, Detection and Prevention Software Productstracefusion_signature=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[[T_F]]

Hide me
Get My Top Oil Pick of 2019—Absolutely FREE—click HERE
Enter Your Best Email Address Here: *
Show me