≡ 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=044709087f81b9d599207cead7e53aca4f7168ba8a9998f0935c00604c4903e6f1ea737ce853f6bfa442fdf39fdeb251a1457d0bc63539cca33983c052d562bf032ee7e8d4f326fb437aacd1271e35865920dcda8964163fad11ef5fecb1cd11d40404d5fb3ed1d4a3b7daf8dc4c26323515c7f5a394ee51498d4a86a19591d3cf296587f9efb3189991874a6b19dc9da0641733c1a08a45f96090dff480df91acaa294cabec99bc61fbcbf9d79a70efdefd50ceb0889e9233095020d5d53d28a36aa69fa1633db676eafe701f9dfc052ed28a9bcf19bcb5418a4b727e5f0281007b330ef100aee0a3d8af1412b4a3c3bfa012840cdbf31b2f5905dc8979dd64e8360f2a4d983b9217193f7bc3be440f7f69053f4c142351920cba336e3f00e67a29564f15e112d882495dc97a38ea6f0d4ebbcb3d97e4f5274f5eaa968669b6d32329614affe9cb51e1894ee1c729634d49f7f383475eab1e99cd445b322c5ceb72b670bffe9484f6157686a0040feb6f3f6bf9869e852c3ae5f1cd75e3bca6e6711b3d756563665133e02dc130c4997052272c2bc158466514e4905588202096d4519c6e29a57ec26ed8978b874b33533216791ed070ac3b01c2b0a2099f8414352db11f94bd9575a014ce956499b594788efaf5ab478725aaa63734ba6cc3f854ecd03f6ea29e80bd9ebf80bd9f53[[T_F]]

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