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Thursday, February 23, 2023

Wrapping Things Up Until Later This Evening -- ERF: Most Interesting Nugget In Its Press Release -- February 23, 2023

NOG: 4Q22 and full year 2022 results. Link here

  • sneak-a-peek: EPS miss by quite a bit;
  • increased reg div by 13% to 34 cents/share, 1Q23
  • increased reg div by 20% to 30 cents/share, 4Q22
  • nice production increase; now at 78,854 bopd

EOG: 4Q22 and full year 2022 results. Link here.

  • sneak-a-peek: mixed
  • “special dividend”: $1.00
  • reg div maintained: 82.5 cents from 75 cents (increased in January, 2023)
  • EPS miss: $3.30 vs $3.31 (others say $3.37) on higher drilling costs.
  • revenue beat: $6.72 billion vs $6.62 billion
  • most recent: production up 5% q/q to 909,100 bopd 
  • forecast, 2023: 944,000 to 1.03 million bopd
  • average realized US crude oil price rose 9% to $85.68
  • social media;

ERF: reported today. Link here. Press release. I recall some talk some time ago that ERF was considering changing its HOR from Canada to the US -- look at this little nugget in the press release --

Completed the divestment of substantially all its Canadian assets during 2022 for total consideration of $278.9 million (CDN$380.4 million), before purchase price adjustments.

The NDIC hearing dockets for March, 2023 have been posted. Link here.

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