lstmf
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prince_jake_33
- Posts: 242
- Joined: Mon Apr 26, 2010 2:21 pm
Re: lstmf
The conference call is in about 30 min. Production and price are OK I think. Dan is the analyzer 
Re: lstmf
Production is right at their previous guidance. Production was expected to dip from Q1 to Q2. Weather related because spring is ALWAYS very wet in the Cardium area, so completions are pushed into Q3.
I am working on the forecast model right now and will have it posted under the Watch List Tab by noon CT.
I am working on the forecast model right now and will have it posted under the Watch List Tab by noon CT.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: lstmf
From their press release:
Our second quarter average production of 46,045 boepd was comprised of 20,180 boepd from the Cardium business unit and 16,564 boepd from the Bakken business unit, with the remainder from the Saskatchewan Conventional and AB/BC business units. Production for the second quarter was ahead of our forecast due to our maturing production base, infrastructure investments and a shorter spring break-up. Our production was up 19% compared to the second quarter of 2012, reflecting the successful execution of our 2012 and 2013 capital plan.
While production during the second quarter was marginally impacted by spring break up, we did experience our normal seasonal slowdown in field activities because of road bans and field conditions. During the quarter, we drilled 7 wells and brought 20 wells on-production, with an additional 14 wells waiting in inventory to be completed and/or brought on production.
Our second quarter average production of 46,045 boepd was comprised of 20,180 boepd from the Cardium business unit and 16,564 boepd from the Bakken business unit, with the remainder from the Saskatchewan Conventional and AB/BC business units. Production for the second quarter was ahead of our forecast due to our maturing production base, infrastructure investments and a shorter spring break-up. Our production was up 19% compared to the second quarter of 2012, reflecting the successful execution of our 2012 and 2013 capital plan.
While production during the second quarter was marginally impacted by spring break up, we did experience our normal seasonal slowdown in field activities because of road bans and field conditions. During the quarter, we drilled 7 wells and brought 20 wells on-production, with an additional 14 wells waiting in inventory to be completed and/or brought on production.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: lstmf
Our monthly dividend of $0.08 per share has remained consistent since the Company's inception. During the second quarter, total dividends of $47 million were declared, representing 28% of funds flow from operations. Cash dividends of $35 million were paid, representing 21% of quarterly funds flow from operations, as approximately 27% of shareholders participated in our dividend reinvestment and share dividend plans.
As at June 30, 2013, Lightstream had $1.2 billion of debt drawn on our $1.4 billion credit facility. Effective April 2013, the credit facility was amended to extend the maturity by an additional year to June 2016. All other terms of the facility remain the same, including the tiered covenants and the $100 million accordion feature potentially allowing us to increase the facility size to $1.5 billion.
Lightstream is now generating more than enough cash flow from operations to cover capital spending and their dividends. - Dan
As at June 30, 2013, Lightstream had $1.2 billion of debt drawn on our $1.4 billion credit facility. Effective April 2013, the credit facility was amended to extend the maturity by an additional year to June 2016. All other terms of the facility remain the same, including the tiered covenants and the $100 million accordion feature potentially allowing us to increase the facility size to $1.5 billion.
Lightstream is now generating more than enough cash flow from operations to cover capital spending and their dividends. - Dan
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group