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Last C$0.07 CAD
Change Today 0.00 / 0.00%
Volume 173.7K
PLT-U On Other Exchanges
As of 3:43 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

parallel energy trust-unit (PLT-U) Snapshot

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09/24/14 - C$3.85
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08/20/15 - C$0.05
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parallel energy trust-unit (PLT-U) Details

A company description is not available for PLT-U:CN.
54 Employees
Last Reported Date: 03/16/15

parallel energy trust-unit (PLT-U) Top Compensated Officers

Chief Executive Officer of Parallel Energy In...
Total Annual Compensation: C$375.0K
Chief Financial Officer
Total Annual Compensation: C$223.7K
Chief Operating Officer
Total Annual Compensation: C$318.7K
Compensation as of Fiscal Year 2014.

parallel energy trust-unit (PLT-U) Key Developments

Parallel Energy Trust Announces Unaudited Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Operating Results for the Month and Year to Date Ended July 2015; Provides Operating Guidance for the Full Year of 2015; Reports Impairment Charges for the Second Quarter of 2015

Parallel Energy Trust announced unaudited earnings and operating results for the second quarter and six months ended June 30, 2015. For the quarter the company reported natural gas was 13,764 mcf/day against 15,140 mcf/day a year ago. Condensate was 1,637 bbls/day against 1,686 bbls/day a year ago. Natural gas liquids was 2,778 bbls/day against 2,973 bbls/day a year ago. Total (@6:1) was 6,709 boe/day against 7,183 boe/day a year ago. Second quarter production levels were negatively impacted by an unexpected outage at a third-party processing facility serving the Carson operating area. Average sales price was $21.97 per boe against $46.33 per boe a year ago. For the quarter the company reported revenue, net of royalties was $13,366,000 against $26,820,000 a year ago. Funds from operations were $2,356,000 against $10,659,000 a year ago. Net loss was $102,163,000 against income of $849,000 a year ago. Capital expenditures excluding acquisitions was $1,003,000 against $5,539,000 a year ago. Based on field data, the company recorded average daily production of approximately 6,900 boe/day in July of 2015. The company’s year-to-date average daily production is approximately 6,700 boe/day, slightly below the Trust's full year production guidance. Based on expected production levels in the second half of 2015, the company is reconfirming its full year production guidance of 6,800 boe/day. Recorded a net impairment of $94.1 million on the company’s oil and gas assets as a result of impairment tests performed in the second quarter of 2015.

Parallel Energy Trust Reports Unaudited Earnings and Production Results for the First Quarter Ended March 31, 2015; Provides Production Guidance for the Year 2015

Parallel Energy Trust reported unaudited earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company reported Revenue, net of royalties of USD 13,606,000 against USD 28,974,000 a year ago. Funds from operations were USD 4,057,000 against USD 11,492,000 a year ago. Net loss was USD 6,182,000 against net income of USD 731,000 a year ago. Capital expenditures excluding acquisitions were USD 2,014,000 against USD 6,325,000 a year ago. For the quarter, the company recorded average daily production of 6,684 boe/day (63% natural gas liquids and condensate) against 6,607 boe/day a year ago, consistent with production results in the first quarter of 2014 as the Trust's operating areas were impacted by severe winter weather during both periods. For the year 2015, the company is reconfirming its full year production guidance of 6,800 boe/day.

Parallel Energy Trust Announces Renewal of Credit Facility

Parallel Energy Trust announced that the revolving period of its credit facility will be renewed until September 30, 2015 at a revised amount $165 million, which is above the expected usage of the credit facility providing the Trust with sufficient liquidity to fund its operations. In addition to the reduction in the credit facility amount, Parallel's interest rate will be increased by 2% per annum and the Trust will be restricted from making cash distributions to unit holders until further notice.


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