Canada's ShaMaran Q4 revenue rises 57% on export restart
Overview
Canada oil producer's Q4 revenue rose 57% yr/yr due to pipeline export restart
Company's Q4 EBITDAX increased 71% yr/yr driven by higher international crude pricing
Outlook
ShaMaran plans to drill-to-fill Atrush capacity, pending regional security
Company expects payment for full PSC entitlement after review completion
Result Drivers
PIPELINE RESTART - Restart of Iraq-Türkiye pipeline allowed sales at international prices, boosting revenue and EBITDAX
PAYMENT CERTAINTY - Improved payment certainty for oil sales enabled reinvestment in assets
PRODUCTION IMPACT - Planned shutdown at Atrush and lower Sarsang output due to drone strike affected production
Company press release: ID:nCNWLftSba
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | $54.66 mln | $41.50 mln (2 Analysts) |
Q4 Cash Flow from Operations |
| $4.67 mln |
|
Q4 Adjusted EBITDAX |
| $39.89 mln |
|
Analyst Coverage
The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 5 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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