Q: Your thoughts on the quarter please?
Thx
Thx
5i Research Answer:
EPS of 17c slightly missed estimates; revenue of $439M beat estimates of $426M. Production of 65,025 b/d beat estimates of 62,615 b/d, and TVE boosted its production estimate to 63,000+ b/d from 61,000+. Spending for the year should be $440M. Adjusted cash flow was 41c per share, and YTD free cash flow is up 72%. Cost reductions and better wellhead realizations are helping results. It bought back 12.3M shares in the quarter. The dividend was increased by 2%. Things look fine at TVE.