Seven Generations Energy Ltd. reports director election voting results from its annual meeting of shareholders held on May 5, 2020 , as set forth in the table below. All of the proposed nominees were elected to serve as directors until the next annual meeting of shareholders, or until their successors are duly elected or appointed. As previously [...]
In response to the significant decline in global energy prices, Seven Generations has reduced its previously announced 2020 capital investment budget by 18%, or $200 million, to $900 million. Effective immediately, the company will meaningfully reduce its activity levels to align investments to expected cash flow. DETAILS 2020 capital investment [...]
Seven Generations Energy Ltd. : FOURTH QUARTER 2019 HIGHLIGHTS Net income per diluted share was $0.24 in the fourth quarter, and $1.36 for the full year, an increase of 12% over 2018 on a full year basis. Fourth quarter and full year 2019 funds flow was $353 million and $1.39 billion, respectively, with capital investments of $233 million for the [...]
Seven Generations Energy Ltd. and Québec’s main natural gas distributor, Énergir s.e.c. , have entered into a responsible natural gas supply agreement governed by the EO100™ Standard for Responsible Energy Development. Globally, this is the first transaction executed under the EO100™ framework and establishes a new [...]
THIRD QUARTER 2019 HIGHLIGHTS Cash provided by operating activities totaled $320 million in the third quarter of 2019. Adjusted funds flow was $341 million, and after considering $285 million of capital investments, free cash flow was $56 million in the quarter. The company remains committed to its full-year capital investment plan of $1.25 billion [...]
SECOND QUARTER 2019 HIGHLIGHTS 7G’s cash provided by operating activities totaled $422 million. At current strip prices 7G anticipates free cash flow of $100-150 million for full-year 2019, demonstrating meaningful potential for shareholder returns in the current commodity price environment. Total capital investments were $311 million, with [...]
70+ oil & gas industry management teams will discuss 2019-2020 operations at EnerCom's 24th Denver energy investment conference EnerCom has released the presentation schedule of oil and gas companies presenting on day two of its 24th annual The Oil & Gas Conference® which runs Aug. 11-14, 2019, in Denver, Colorado. Presenting Companies at the [...]
FIRST QUARTER 2019 HIGHLIGHTS 7G’s market access initiatives, coupled with a stronger condensate price environment and improved operating costs, led to adjusted funds flow of $339 million or $0.95 per share and yielded an operating netback of $21.99 per boe, 16 percent higher than the fourth quarter of 2018. The company’s trailing [...]
Seven Generations Energy Ltd. reports director election voting results from its annual meeting of shareholders held on May 1, 2019 , as set forth in the table below. All of the proposed nominees were elected to serve as directors until the next annual meeting of shareholders, or until their successors are duly elected or appointed. As previously [...]
2018 HIGHLIGHTS 2018 adjusted funds flow of $1.67 billion or $4.60 per share, representing a per share increase of 36 percent compared to 2017. 2018 net income of $440 million, $1.21 per share. Operating income of $574 million, $1.58 per share, up 76 percent versus 2017. As of December 31, 2018, 7G’s trailing 12-month return on capital [...]
Seven Generations Energy’s Board of Directors has approved a 2019 capital investment budget of $1.25 billion that is expected to be funded from operations and that, given the current price environment, strikes a reasoned balance between current production and future growth projects. “Our 2019 budget maintains our balance sheet strength [...]
Seven Generations Energy Ltd.'s notice of intention to proceed with its previously announced normal course issuer bid for its class A common shares has been accepted by the Toronto Stock Exchange . “We believe our shares are trading at a substantial discount to intrinsic value. Our planned share repurchase program represents an attractive way [...]
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