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Last C$0.49 CAD
Change Today -0.01 / -2.00%
Volume 16.8K
CQE On Other Exchanges
Symbol
Exchange
Toronto
Berlin
OTC US
As of 2:52 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

cequence energy ltd (CQE) Snapshot

Open
C$0.50
Previous Close
C$0.50
Day High
C$0.50
Day Low
C$0.48
52 Week High
09/4/14 - C$2.21
52 Week Low
08/24/15 - C$0.38
Market Cap
103.4M
Average Volume 10 Days
208.2K
EPS TTM
C$-0.03
Shares Outstanding
211.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for CEQUENCE ENERGY LTD (CQE)

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cequence energy ltd (CQE) Details

Cequence Energy Ltd. engages in the acquisition, exploration, development, and production of petroleum and natural gas reserves in Western Canada. Its principal properties are located in the Deep Basin area of Northwest Alberta; Peace River Arch area of Northwest Alberta; and Northeast British Columbia. Cequence Energy Ltd. owns a total of approximately 470,229 gross acres of oil and natural gas leases with approximately 56% average working interest. The company was formerly known as Sabretooth Energy Ltd. and changed its name to Cequence Energy Ltd. in July 2009. Cequence Energy Ltd. was incorporated in 2000 and is based in Calgary, Canada.

30 Employees
Last Reported Date: 03/5/15
Founded in 2000

cequence energy ltd (CQE) Top Compensated Officers

Chief Executive Officer, President, Non Indep...
Total Annual Compensation: C$325.0K
Chief Financial Officer, Vice President of Fi...
Total Annual Compensation: C$250.0K
Chief Operating Officer, Member of Disclosure...
Total Annual Compensation: C$116.3K
Vice President of Geology
Total Annual Compensation: C$250.0K
Vice President of Land
Total Annual Compensation: C$250.0K
Compensation as of Fiscal Year 2014.

cequence energy ltd (CQE) Key Developments

Cequence Energy Ltd. Reports Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Capital Expenditure and Production Guidance for the Year 2015

Cequence Energy Ltd. reported consolidated earnings and production results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported production revenue of CAD 21,802,000 against CAD 41,219,000 for the same period last year. Comprehensive income was CAD 246,000 or CAD 0.00 per basic and diluted share against CAD 8,876,000 or CAD 0.04 per basic and diluted share for the same period last year. Funds flow from operations was CAD 7,283,000 or CAD 0.03 per diluted share against CAD 20,235,000 or CAD 0.09 per basic and diluted share for the same period last year. Capital expenditures were CAD 19,848,000 against CAD 15,957,000 for the same period last year. The decrease in funds flow from operations is due largely to lower oil and natural gas prices in 2015. For the six months, the company reported production revenue of CAD 45,396,000 against CAD 82,314,000 for the same period last year. Comprehensive loss was CAD 4,416,000 or CAD 0.02 per basic and diluted share against comprehensive income of CAD 9,388,000 or CAD 0.04 per basic and diluted share for the same period last year. Funds flow from operations was CAD 15,566,000 or CAD 0.07 per diluted share against CAD 43,317,000 or CAD 0.20 per basic and diluted share for the same period last year. Capital expenditures were CAD 42,430,000 against CAD 74,504,000 for the same period last year. Net debt as on June 30, 2015 was CAD 51,887,000 against CAD 136,040,000 as on June 30, 2014. For the quarter, the company reported natural gas production volume of 48,665 Mcf per day compared to 64,810 Mcf per day a year ago. Crude oil production volume was 100 bbls per day compared to 100 bbls per day a year ago. Natural gas liquids Natural gas liquids was 562 bbls per day compared to 753 bbls per day a year ago. Total production volume 9,726 boe per day compared to 12,735 boe per day a year ago. For the six months, the company reported natural gas production volume of 52,364 Mcf per day compared to 62,368 Mcf per day a year ago. Crude oil production volume was 108 bbls per day compared to 128 bbls per day a year ago. Natural gas liquids Natural gas liquids was 558 bbls per day compared to 636 bbls per day a year ago. Total production volume 10,468 boe per day compared to 12,177 boe per day a year ago. For the year 2015, the company expects funds flow from operations of CAD 30,000,000 compared to previous guidance of CAD 38,500,000, funds flow from operations per share of CAD 0.14 compared to previous guidance of CAD 0.18, capital expenditures, prior to dispositions of CAD 69,000,000 compared to previous guidance of CAD 75,000,000, capital expenditures and net of dispositions of CAD 23,000,000 compared to previous guidance of CAD 40,000,000. Second half capital expenditures are forecast to be focused on the Simonette refrigeration plant construction and the drilling of 5.0 (2.5 net) wells at Simonette. The company plans to exit 2015 with approximately CAD 65 million in net debt, leaving the company with ample liquidity on its CAD 180 million in total available credit facility. For the year 2015, the company expects average production of 10,200 BOE/d compared to previous guidance of 11,500 BOE/d. Drilling is expected to initially focus on the Dunvegan with 3 gross wells (1.5 net) expected to be completed prior to year end. Montney drilling is expected to commence with 2 gross (1 net) wells expected to be drilled in the fourth quarter.

Cequence Energy Ltd. Announces Alliance Pipeline Force Majeure Results in Temporary Production Curtailment

Cequence Energy Ltd. was informed by Alliance Pipeline that an operational event has caused the company to call for all suppliers to suspend deliveries into the pipeline for an indeterminate period of time. As a result, Cequence has suspended approximately 7,500 boe/d of production, primarily from Simonette, for an indeterminate period of time. Alliance Pipeline advised shippers that an amount of hydrogen sulfide (H2S) entered into its mainline pipeline as result of complications experienced by an upstream operator. Alliance has declared this to be a force majeure event.

Cequence Energy Ltd. and Kanata Energy Group Ltd. Jointly Fund Enhancement of Simonette Gas Compression and Dehydration Facility

Cequence Energy Ltd. has closed its previously announced transaction with Kanata Energy Group Ltd. pursuant to which Cequence sold a 50% interest in its existing Simonette facilities and related infrastructure and Cequence and KANATA agreed to jointly fund an enhancement of the 13-11-62-27W5M Simonette gas compression and dehydration facility. The facility enhancement includes adding a shallow cut refrigeration system and sales connection to TransCanada Corporations NGTL system that improve the company's marketing optionality and long-term flow assurance from the Simonette area. The refrigeration plant will be capable of processing 120 mmcf per day of liquids rich natural gas, which is expected to be sufficient to cover Cequences development drilling plans for several years. Proceeds of $34 million received by Cequence at closing of the sale of the existing Simonette facilities and infrastructure was applied to reduce the company's indebtedness, resulting in March 31, 2015, adjusted net debt of $49 million. Cequences borrowing base under its senior credit facilities has been set at $135 million subject to unanimous lender consent for amounts borrowed in excess of $120 million. The company's senior credit facility is currently undrawn.

 

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