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Stocks in play: Seven Generations Energy Ltd.

Baystreet.ca
·1 min read

Came out with fourth-quarter financial figures. Quarterly sales volumes averaged 190.1 Mboe/d (43% natural gas, 35% condensate, 22% other NGLs), delivering full-year volumes of 183.9 Mboe/d (43% natural gas, 35% condensate, 22% other NGLs) in-line with the company’s revised full-year 2020 budget. Fourth-quarter funds flow of $275 million and capital investments of $126 million resulted in free cash flow of $149 million, which was allocated toward net debt reduction. At $475 per metre, fourth-quarter 2020 drilling costs represent an incremental 2.5% improvement relative to the third quarter and a 10% reduction to the per-metre drill costs achieved during the fourth quarter of 2019. Seven Generations Energy Ltd. shares T.VII are trading down $0.01 at $8.96.

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