PTRUF - Petrus Resources: Low Costs High Debt
Petrus Resources (OTCQX:PTRUF) released its Q1 results. Production dropped 19.7% year over year but management still plans to slightly increase the full-year production. Thanks to better gas prices, lower costs, and a higher portion of liquids, the company generated a strong total positive netback.
But, despite a decrease in the net debt, the leverage is still important. Also, a few days ago, the company announced a lower credit facility borrowing base.
And despite higher Canadian oil prices since the beginning of the year, the stock price dropped 30%. Considering the improving operating results,