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Kiwetinohk Energy Corp. (TSE:KEC)
TSX:KEC
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.1Last Year’s EPS
1.09Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 12, 2022
|% Change Since: 13.53%
|Next Earnings Date:Mar 24, 2022
Earnings Call Sentiment|Positive
The earnings call reflected strong performance in the Upstream division with high operating netbacks and successful extension of Alliance Pipeline capacity. However, challenges remain in the Power division due to regulatory uncertainty, and increased capital expenditure is expected to temporarily raise debt levels.Company Guidance
In the third quarter of 2024, Kiwetinohk Energy provided guidance on several key metrics, reflecting a strong performance and strategic initiatives across its divisions. The Upstream division executed a significant development program, achieving an operating netback of $28.98 per BOE and an adjusted operating netback of $30.89 per BOE, with a substantial focus on the Duvernay and Montney assets. The company maintained low operating costs at $7.19 per BOE, representing a 22% year-over-year reduction, and leveraged its 120 million cubic feet per day capacity on the Alliance Pipeline to sell over 90% of its natural gas in Chicago, where prices were approximately 200% higher than Alberta's AECO benchmark. Kiwetinohk plans to accelerate drilling activities with an additional rig in the fourth quarter, leading to a temporary increase in net debt to adjusted funds flow from operations. However, with nine wells expected to come online by early 2025, the company anticipates generating free cash flow and repaying debt. The Power division remains cautious due to regulatory uncertainties, seeking sale or financing opportunities, while the overall capital program saw a $10 million increase, supported by $230 million in credit facility availability. The company ended the quarter with nearly $900 million in tax pools, aiding in tax deferral, and highlighted the strategic value of its assets in light of recent acquisitions in the Duvernay play.Strong Upstream Performance
Executed a significant development program, with production in Q3 averaging near 26,000 BOEs per day. The company expanded its fourth quarter plans to include additional wells, expecting to deliver free cash flow and repay debt early in 2025.
High Operating Netbacks
Achieved a Q3 netback of $28.98 per BOE, with an adjusted operating netback of $30.89 per BOE. Operating costs were reduced by 22% from the third quarter of last year.
Advantageous Alliance Pipeline Capacity
Extended Alliance Pipeline capacity by 7 years, allowing the sale of over 90% of natural gas production in Chicago at a premium to Alberta prices, with Chicago pricing approximately 200% higher than AECO in Q3.
Montney Well Performance
First Montney well in the Simonette area exceeded expectations with rates in excess of 7 million cubic feet per day of gas and gas liquids, plus approximately 400 barrels a day of condensate.
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TSE:KEC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:KEC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | C$15.15 | C$15.15 | 0.00% |
| Aug 01, 2024 | C$13.60 | C$13.60 | 0.00% |
| May 08, 2024 | C$12.32 | C$12.82 | +4.06% |
| Mar 07, 2024 | C$10.92 | C$10.99 | +0.64% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Kiwetinohk Energy Corp. (TSE:KEC) report earnings?
Kiwetinohk Energy Corp. (TSE:KEC) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Kiwetinohk Energy Corp. (TSE:KEC) earnings time?
Kiwetinohk Energy Corp. (TSE:KEC) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:KEC EPS forecast?
TSE:KEC EPS forecast for the fiscal quarter 2024 (Q4) is 1.1.
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