INK Morning Report June 30 2020
    
    
      
    
  

  
    
        Today, we published our June
        Energy Top 30 stock report,
        and Crew Energy took the number five spot.
        The stock is down 13% over the past month,
        but it is still up 50% over
        the past 3 months.
        Crew Energy is focused primarily on
        its natural gas and light
        oil Montney resource play in
        northeast BC while
        its Lloydminster operations in
        the Saskatchewan/Alberta border region
        provide exposure to heavy oil.
        When Crew reported
        Q1 results ending March 31st,
        adjusted funds flow came
        in at $0.08 per share,
        down from $0.17 a year ago.
        However, production was up slightly
        at 23,894 barrels of
        oil equivalent per day with
        just over 30% being
        oil & natural gas liquids.
        On the production front,
        Crew reaffirmed annual production guidance
        of between 20,000 and
        22,000 boe/day despite a plan
        to shut in some production.
        Crew has some breathing room
        on the liquidity front,
        with its $300 million in
        senior unsecured term debt
        not due until 2024.
        Inflation expectations are rising
        and could be signalling
        higher commodity prices ahead.
        Insiders seem to be betting
        that the stock will eventually
        ride a reflation wave and set sail higher.
        Get our full report via INKResearch.com or
        the Canadian Insider Club at
        CanadianInsider.com.
        This report is not
        a recommendation to buy or sell securities..