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Kostolanys Erbe
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Beitrag13/13, 17.08.16, 21:19:40  | FRU - FREEHOLD ROYALTIES LTD
Antworten mit Zitat
Hallo Leute,

hier startet jetzt der Thread für FRU zum nachlesen.

Anbei der link der bisher gesammelten News und Infos zu FRU: http://peketec.de/trading/viewtopic.php?p=1703293#1703293


Viele Grüße
Euer Kosto


Kostolanys Erbe schrieb am 05.08.2016, 20:40 Uhr
Freehold loses $2.24-million in Q2



2016-08-05 02:19 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. ANNOUNCES 2016 SECOND QUARTER RESULTS AND SUSPENSION OF DRIP

Freehold Royalties Ltd. has released second quarter results for the period ended June 30, 2016.

RESULTS AT A GLANCE

Three months ended Six months ended
June 30, June 30,
Financial ($000s,
except as noted) 2016 2015 2016 2015

Gross revenue $32,219 $38,004 $57,152 $65,755
Net income (loss) (2,249) 3,919 (10,839) 25,536
Per share, basic and
diluted ($) (0. 02) 0.04 (0.11) 0.31
Funds from operations 24,142 28,730 39,642 50,668
Per share, basic ($) 0.23 0.32 0.39 0.62
Operating income (1) 28,011 32,733 48,303 55,365
Operating income
from royalties (%) 91 85 94 84
Acquisitions 162,211 342,310 162,430 410,680
Capital expenditures 753 2,750 2,837 8,719
Dividends declared 13,380 24,459 31,225 44,788
Per share ($) (2) 0.12 0.27 0.30 0.54
Net debt obligations
(1) 98,191 146,992 98,191 146,992

Operating

Average daily
production (boe/d) 12,041 10,617 12,006 10,338
(3)
Average price
realizations ($/boe) 28.48 38.63 25.37 34.36
(3)
Operating netback
($/boe) (1) (3) 25.57 33.88 25.11 29.58
------ ------ ------ ------

(1) A non-generally accepted accounting principle financial
measure.
(2) Based on the number of shares issued and outstanding at each
record date.
(3) A conversion of natural gas to barrels of oil equivalent.



Dividend announcement

The board of directors has declared a dividend of four cents per share, to be paid on Sept. 15, 2016, to shareholders of record on Aug. 31, 2016. The dividend is designated as an eligible dividend for Canadian income tax purposes.

Dividend reinvestment plan suspension

Effective with the August dividend, the board has approved the suspension of the company's dividend reinvestment plan (DRIP) pending further notice. As of Sept. 15, 2016, shareholders who were enrolled in the DRIP will receive the regular monthly cash dividend of four cents per share. Participants in the DRIP will still receive shares in lieu of the monthly cash dividend to be paid on Aug. 15, 2016, to shareholders of record as at July 31, 2016.

Second quarter 2016 highlights:

Freehold's production averaged a record 12,041 barrels of oil equivalent per day in second quarter 2016. Gains in production were the result of acquisition activity (see news release dated May 25, 2016) and a strong quarter from the company's audit function (largely responsible for 475 boe per day of prior-period adjustments for second quarter 2016).
Funds from operations totalled $24.1-million (23 cents per share) in second quarter 2016, up 55 per cent from first quarter 2016. Royalties accounted for 91 per cent of operating income, reinforcing the company's royalty focus.
Freehold acquired royalty production and fee lands from certain affiliates of Husky Energy Inc. for $162-million. Freehold's royalty acreage now totals 5.9 million acres (73-per-cent increase).
After a review of company's prospect inventory, including the upside from the Husky transaction, the company estimates that it has greater than 10 years of free drilling on its royalty lands.
In second quarter 2016, Freehold issued 15 leases, with the majority of the interest focused on Freehold's southeast Saskatchewan royalty lands.
Basic payout ratio (dividends declared and funds from operations) for second quarter 2016 totalled 55 per cent while the adjusted payout ratio (cash dividends plus capital expenditures and funds from operations) for the same period was 50 per cent.
At June 30, 2016, net debt obligations totalled $98.2-million, down $51.0-million from $149.2-million at March 31, 2016. This implies a ratio of net debt to 12-month trailing funds from operations of 1.1 times (0.9 times including the pro forma effects of acquisitions).


Guidance update

The attached key operating assumptions table summarizes the company's key operating assumptions for 2016, updated to reflect actual statistics for the first six months and the company's current expectations for the rest of the year.

The company has increased its production guidance from 11,400 barrels of oil equivalent per day to 11,700 boe per day, reflecting lower-than-expected decline within the company's royalty production and positive prior-period adjustments. Volumes are expected to be weighted approximately 59 per cent oil and natural gas liquids and 41 per cent natural gas. It continues to maintain its royalty focus with royalty production accounting for 80 per cent of forecasted 2016 production and 93 per cent of operating income.
The company has revised upward its 2016 AECO natural gas price assumption from $1.80 per thousand cubic feet to $2 per thousand cubic feet.
Increased expected royalty production, which has no operating costs, has resulted in a downward revision to the company's operating costs from $4 per boe to $3.75 per boe.
The company's general and administrative costs have been reduced from $2.50 per boe to $2.40 per boe, reflecting the increased production guidance.
Freehold's board has approved the suspension of the DRIP pending further notice, resulting in estimates for the company's dividends paid in shares for the full year decreasing from $8-million to $5-million.
The company's capital spending budget remains at $7-million. A large percentage of the company's capital expenditure program is non-operated, and the activity level is difficult to predict.
Weighted-average shares outstanding have increased from 109 million to 110 million due to the full exercise of the overallotment option relating to the company's May, 2016, financing.
Based on the announced DRIP suspension and changes to certain operating assumptions, the company forecasts its 2016 basic payout ratio to be approximately 74 per cent (previously 82 per cent).
The company forecasts year-end net debt to funds from operations of approximately 1.1 times based on its revised key operating assumptions (excluding the pro forma effects of acquisitions).


KEY OPERATING ASSUMPTIONS

Aug. 4, May 11, March 3, Nov. 12,
Annual 2016 average 2016 2016 2016 2015

Daily production boe/d 11,700 11,400 9,800 9,800
WTI oil price U.S.$/bbl $40.00 $40.00 $35.00 $50.00
Western Canadian Select (WCS) Cdn$/bbl 34.00 34.00 31.00 47.00
AECO natural gas price Cdn$/Mcf 2. 00 1.80 2.00 2.75
Exchange rate Cdn$/U.S.$ 0.76 0.77 0.72 0.76
Operating costs $/boe 3.75 4.00 4.75 5.00
General and administrative
costs (1) $/boe 2.40 2.50 2.65 2.85
Capital expenditures $ millions 7 7 7 15
Dividends paid in shares
(DRIP) $ millions 5 8 8 13
---------- ----- ----- ----- -----

(1) Excludes share-based and other compensation.



Recognizing the cyclical nature of the oil and gas industry, the company continues to closely monitor commodity prices and industry trends for signs of changing market conditions. The company cautions that it is inherently difficult to predict activity levels on its royalty lands since it has no operational control. As well, significant changes (positive or negative) in commodity prices (including Canadian oil price differentials), foreign exchange rates or production rates may result in adjustments to the dividend rate.

Based on the company's current guidance and commodity price assumptions, and assuming no significant changes in the current business environment, the company expects to maintain the monthly dividend rate through the next quarter. It will continue to evaluate the commodity price environment and adjust the dividend levels as necessary (subject to the quarterly review and approval of the company's board of directors).

Availability on SEDAR

Freehold's second quarter 2016 interim unaudited condensed consolidated financial statements and accompanying management's discussion and analysis are being filed today with Canadian securities regulators and will be available at SEDAR and on the company's website.


http://www.stockwatch.com/News/Item....RU-2395297&symbol=FRU®ion=C




Kostolanys Erbe schrieb am 19.07.2016, 23:15 Uhr
Freehold Royalties to pay four-cent dividend Aug. 15



2016-07-18 16:05 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. DECLARES DIVIDEND FOR AUGUST 2016


Freehold Royalties Ltd.'s board of directors has declared a dividend of four cents per common share to be paid on Aug. 15, 2016, to shareholders of record on July 31, 2016.

These dividends are designated as eligible dividends for Canadian income tax purposes.


http://www.stockwatch.com/News/Item....RU-2390312&symbol=FRU®ion=C


greenhorn schrieb am 15.06.2016, 09:25 Uhr
Danke trotz Quellensteuergedöns bleiben die im Depot........nach allem drum und dran bleibt bei meinem Einstieg eine Dividendenrendite von etwas über 4,5% hängen, solange operational sich nichts verschlechtert ist das schon ganz i.Ordnung
monatliche Zahlungen haben auch einen ganz eigenen Reiz Smile

Kostolanys Erbe schrieb am 14.06.2016, 22:44 Uhr
Freehold Royalties to pay four-cent dividend July 15



2016-06-14 16:34 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. DECLARES DIVIDEND FOR JULY 2016


Freehold Royalties Ltd. has declared a dividend of four cents per common share to be paid on July 15, 2016, to shareholders of record on June 30, 2016. Including the June 15, 2016, payment, the 12-month trailing cash dividends total 76 cents per common share.

These dividends are designated as eligible dividends for Canadian income tax purposes.

http://www.stockwatch.com/News/Item....RU-2382760&symbol=FRU®ion=C



greenhorn schrieb am 26.05.2016, 08:28 Uhr
FRU - finde den Deal eigentlich gut, denke das entspannt sich demnächst auch wieder im Kurs Smile

Kostolanys Erbe schrieb am 25.05.2016, 21:06 Uhr
Freehold closes Husky asset acquisition, financing



2016-05-25 09:43 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. ANNOUNCES CLOSING OF ACQUISITION AND PUBLIC OFFERING

Freehold Royalties Ltd. has closed its previously announced $165-million acquisition of royalty production and mineral title lands from Husky Energy Inc. and certain of its affiliates.

In conjunction with the closing of the Husky transaction, Freehold also completed its previously announced bought deal financing, issuing 16,428,900 common shares at a price of $11.55 per share for gross proceeds of approximately $190-million, which included the full exercise of the overallotment option granted to the underwriters. The bought deal offering was completed through a syndicate of underwriters co-led by RBC Capital Markets, CIBC and TD Securities.

Concurrent with the closing of the bought deal financing, the pension trust funds for employees of Canadian National Railway Company invested approximately $20-million in Freehold through the purchase of 1,732,000 common shares at the issue price on a non-brokered private-placement basis.

The total gross proceeds raised by Freehold pursuant to the bought deal financing and the investment by the CN pension trust funds totalled approximately $210-million. Freehold used a portion of the net proceeds from the bought deal financing and investment by the CN pension trust funds to complete the Husky transaction with the remainder to pay down a portion of outstanding indebtedness.


http://www.stockwatch.com/News/Item....RU-2376176&symbol=FRU®ion=C


Kostolanys Erbe schrieb am 11.05.2016, 22:36 Uhr
Freehold loses $8.59-million in Q1



2016-05-11 16:05 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. ANNOUNCES 2016 FIRST QUARTER RESULTS

Freehold Royalties Ltd. has released first quarter results for the period ended March 31, 2016.

RESULTS AT A GLANCE

Three Months Ended
March 31
FINANCIAL ($000s, except as noted) 2016 2015 Change

Gross revenue 24,933 27,751 -10%
Net income (loss) (8,590) 21,617 -140%
Per share, basic and diluted ($) (0.09) 0.29 -131%
Funds from operations 15,500 21,938 -29%
Per share, basic ($) 0.16 0.29 -45%
Operating income (1) 20,292 22,632 -10%
Operating income from royalties (%) 97 83 17%
Acquisitions 219 68,370 -
Capital expenditures 2,084 5,969 -65%
Dividends declared 17,845 20,329 -12%
Per share ($) (2) 0.18 0.27 -33%
Net debt obligations (1) 149,197 198,834 -25%
Shares outstanding, period end (000s) 99,284 75,457 32%
Average shares outstanding (000s) (3) 99,093 75,199 32%
OPERATING
----------------------------------------------------------------------------
Average daily production (boe/d) (4) 11,974 10,058 19%
Average price realizations ($/boe) (4) 22.23 29.80 -25%
Operating netback ($/boe) (1) (4) 18.62 25.01 -26%
----------------------------------------------------------------------------
(1) See Non-GAAP Financial Measures.
(2) Based on the number of shares issued and outstanding at each record
date.
(3) Weighted average number of shares outstanding during the period, basic.
(4) See Conversion of Natural Gas to Barrels of Oil Equivalent (boe).



Dividend Announcement

The Board of Directors has declared a dividend of $0.04 per share, to be paid on June 15, 2016 to shareholders of record on May 31, 2016. The dividend is designated as an eligible dividend for Canadian income tax purposes. Including the June 15, 2016 payment, the 12-month trailing cash dividends total $0.81/share.

2016 First Quarter Highlights

Production for Q1-2016 averaged 11,974 boe/d, a 19% increase over Q1- 2015 and a 1% increase over Q4-2015.
Royalties accounted for 97% of operating income and 79% of production, reinforcing our royalty focus.
Royalty production was up 33% compared to Q1-2015, averaging 9,495 boe/d. Growth in volumes was associated with a combination of production acquired through the year, new production from drilling on our royalty lands and a strong quarter from our audit function; which was largely responsible for approximately 600 boe/d of prior period adjustments, including compensatory royalties on our mineral title lands.
Working interest production averaged 2,479 boe/d for the quarter, down 14% when compared to the same period last year, reflecting reduced spending through a weaker commodity price environment.
Funds from operations totaled $15.5 million ($0.16/share) in Q1-2016, down 29% from the same period last year owing to continued weakness in oil and natural gas prices.
Though average commodity price realizations decreased 25%, reduced revenues were partly offset by the increase in production volumes, resulting in a 10% decrease in gross revenue compared to Q1-2015.
Q1-2016 net loss was $8.6 million (Q1-2015 net income of $21.6 million - without a $24.3 million gain on corporate acquisition it would have been a $2.7 million net loss) primarily due to lower revenues and increased depletion and depreciation expense as a result of higher production volumes.
Dividends declared for Q1-2016 totaled $0.18 per share, down from $0.27 per share one year ago. On March 3, 2016, Freehold adjusted its monthly dividend to $0.04 per share from $0.07 per share as a result of reduced funds from operations within the weak commodity price environment.
Average participation in our dividend reinvestment plan (DRIP) was 11% (Q1-2015 - 35%). DRIP proceeds for Q1-2016 totaled $2.4 million.
Net capital expenditures on our working interest properties totaled $2.1 million over the quarter.
Basic payout ratio (dividends declared/funds from operations) for Q1- 2016 totaled 115% while the adjusted payout ratio (cash dividends plus capital expenditures/funds from operations) for the same period was 132%. However, based on our 2016 key operating assumptions our current dividend level remains well funded with our basic payout ratio expected to total approximately 82% for 2016.
At March 31, 2016, net debt obligations totaled $149.2 million, up $2.3 million from $146.9 million at December 31, 2015. This implies a net debt to 12-month trailing funds from operations ratio of 1.5 times (excluding the proforma effects of acquisitions).


Subsequent Events

On May 2, 2016, Freehold entered into a definitive agreement with certain affiliates of Husky Energy Inc. to acquire an extensive suite of royalty production and fee lands for an aggregate purchase price of $165 million, prior to normal closing adjustments (the Husky Transaction). The effective date of the Husky Transaction is January 1, 2016, with closing expected to occur on or about May 25, 2016, subject to regulatory approval and certain other closing conditions.

Highlights include (based on relevant assumptions from our 2016 Key Operating Assumptions):

Adds approximately 2.5 million acres of royalty lands (including 0.3 million acres of mineral title land), increasing our royalty lands acreage by 74% to 5.9 million acres.
Expected 2016 annualized average royalty production of 1,700 boe/d and annualized operating income of $11.4 million.
Expected to increase royalties as a percentage of 2016 operating income to approximately 94%.
The production base is expected to have a low decline of approximately 17% per year in 2016.


The Husky Transaction will be funded by a concurrent $165 million public equity financing (before 15% over-allotment option and underwriters' fees) and an approximate $20 million concurrent private placement to CN Pension Trust Funds, with remaining funds allocated to debt repayment. 16,018,000 common shares at a price of $11.55 per share will be issued through the financings (excluding potential effects of the over-allotment option). If the over-allotment option is exercised in full by the underwriters an additional 2,142,900 common shares will be issued at a price of $11.55 per share for gross proceeds of approximately $25 million. The underwriters will receive a commission of 4% on the common shares issued pursuant to the financing (other than the common shares issued pursuant to the concurrent private placement).

Directors Succession

Two of Freehold's long standing directors, Nolan Blades (Chair of the Board) and David Sandmeyer are not standing for re-election and after 19 years of service will retire from the Board at the Annual and Special Meeting of Shareholders (the Meeting) being held May 11, 2016. Mr. Blades joined the Board in 1996 and was appointed Chair of the Board in May 2009. Mr. Sandmeyer was appointed to the Board in 1996 and served as President and Chief Executive Officer of Rife Resources Ltd. and Freehold until his retirement in May 2009. We would like to thank them for their dedication, wisdom and leadership throughout their tenure on the Board. It is planned that Marvin Romanow will succeed Mr. Blades as Chair of the Board following the Meeting. Mr. Romanow has over 30 years of experience in the oil and gas industry.

We are pleased to announce that Douglas Kay has agreed to stand for election at the Meeting. Mr. Kay is a Corporate Director and former oil and gas executive with over 35 years industry experience.

Guidance Update

The table below summarizes our key operating assumptions for 2016, updated to reflect actual statistics for the first three months and our current expectations for the remainder of the year. The assumptions and guidance reflects the Husky Transaction and the financings (before over-allotment option) discussed in Subsequent Events. -- The increase in our production guidance on May 2, 2016 from 9,800 boe/d to 11,400 boe/d was a function of the Husky Transaction, higher than expected drilling activity on our royalty lands, lower than expected shut-in heavy oil volumes and positive prior period adjustments. Volumes are expected to be weighted approximately 59% oil and natural gas liquids (NGL's) and 41% natural gas. We continue to maintain our royalty focus with royalty production accounting for 80% of forecasted 2016 production and 94% of operating income. -- We have increased our WTI and WCS pricing to US$40.00/bbl and $34.00/bbl respectively (previously US$35.00/bbl and $31.00/bbl respectively), due to recent price momentum. We have revised downward our 2016 AECO natural gas price assumption from $2.00/mcf to $1.80/mcf. -- Based on our key operating assumptions, we forecast our 2016 basic payout ratio to total approximately 82%. -- Operating costs have been reduced from $4.75/boe to $4.00/boe as a result of increased royalty production as a percentage of total production. -- Our capital spending budget remains at $7 million. -- G&A costs have decreased to $2.50/boe as a result of production added through the Husky Transaction, offset somewhat by expected acquisition integration costs -- Weighted average shares outstanding have increased due to the financings detailed in Subsequent Events.

Key Operating Assumptions (1)

2016 Annual Average May 11, 2016 Mar. 3, 2016 Nov. 12, 2015

Daily production boe/d 11,400 9,800 9,800
WTI oil price US$/bbl 40.00 35.00 50.00
Western Canadian
Select (WCS) Cdn$/bbl 34.00 31.00 47.00
AECO natural gas price Cdn$/Mcf 1.80 2.00 2.75
Exchange rate Cdn$/US$ 0.77 0.72 0.76
Operating costs $/boe 4.00 4.75 5.00
General and
administrative costs
(2) $/boe 2.50 2.65 2.85
Capital expenditures $ millions 7 7 15
Dividends paid in
shares (DRIP) (3) $ millions 8 8 13
Weighted average
shares outstanding millions 109 100 100
----------------------------------------------------------------------------
(1)Production guidance was updated to 11,400 boe/d on May 2, 2016 but no
other assumptions were changed at that time.
(2) Excludes share based and other compensation.
(3) Assumes an average 15% participation rate in Freehold's dividend
reinvestment plan, which is subject to change at the participants'
discretion.



Recognizing the cyclical nature of the oil and gas industry, we continue to closely monitor commodity prices and industry trends for signs of deteriorating market conditions. We caution that it is inherently difficult to predict activity levels on our royalty lands since we have no operational control. As well, significant changes (positive or negative) in commodity prices (including Canadian oil price differentials), foreign exchange rates, or production rates may result in adjustments to the dividend rate.

Based on our current guidance and commodity price assumptions, and assuming no significant changes in the current business environment, we expect to maintain the current monthly dividend rate through the next quarter. We will continue to evaluate the commodity price environment with the expectation to increase dividend levels as the environment stabilizes or improves (subject to the quarterly review and approval of our Board of Directors - see Dividend Policy).

Availability on SEDAR

Freehold's 2016 first quarter interim unaudited condensed consolidated financial statements and accompanying Management's Discussion and Analysis (MD&A) are being filed today with Canadian securities regulators and will be available at www.sedar.com and on our website.


http://www.stockwatch.com/News/Item....RU-2372034&symbol=FRU®ion=C




greenhorn schrieb am 03.05.2016, 10:54 Uhr
FRU - liest sich ganz ordentlich! Smile

Kostolanys Erbe schrieb am 02.05.2016, 22:59 Uhr
Freehold to acquire royalty production, lands for $165M


2016-05-02 16:38 ET - News Release

Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. ENTERS INTO AGREEMENT TO ACQUIRE ROYALTY PRODUCTION AND MINERAL TITLE LANDS FOR $165 MILLION, PROVIDES INCREASED 2016 PRODUCTION GUIDANCE AND ANNOUNCES EQUITY FINANCING


Freehold Royalties Ltd. has entered into a definitive agreement with Husky Energy Inc. to acquire an extensive suite of royalty production and lands for an aggregate purchase price of $165-million, prior to normal closing adjustments. The effective date of the transaction will be Jan. 1, 2016, with closing expected to occur on or about May 25, 2016, subject to regulatory approval and certain other closing conditions.

The transaction will be financed by a $165-million bought deal equity financing led by RBC Capital Markets, CIBC and TD Securities Inc. on behalf of a syndicate of underwriters plus a $20-million concurrent private placement to CN Pension Trust Funds (as defined below).

Acquisition Highlights

The acquisition of the Husky Assets will significantly enhance the Company's existing royalty asset base, adding an expected 1,700 boe/d (70% natural gas) of 2016 annualized royalty production and $11.4 million of 2016 annualized operating income (62% from oil and natural gas liquids). The Transaction is expected to increase royalties as a percentage of 2016 funds from operations to 94%.

Freehold's total fee lands will increase by 47% to approximately 1.0 million acres, while total royalty lands will increase by 74% to approximately 5.9 million acres. Freehold sees considerable upside through the addition of southeast Saskatchewan and Deep Basin assets while establishing a new key area in southwest Saskatchewan through the development of the Shaunavon oil trend.

The Transaction is expected to be approximately 2% accretive to 2016 funds from operations per share (on an annualized basis excluding one-time G&A integration costs and based on 100% equity financing).

Based on the equity financing details described below and our latest production guidance, Freehold's 2016 expected net debt to funds from operations and basic payout ratio (including DRIP proceeds) improves to an estimated 1.7 times and 82%, respectively.

The Husky Assets' production base has a low decline of approximately 17% per year.

Low counterparty risk is driven by a portfolio of well-established producers with a long history of development in Western Canada.

Increased 2016 Production Guidance

Assuming closing of the Transaction, Freehold has increased its 2016 average production guidance to 11,400 boe/d (previously 9,800 boe/d). The increase in production guidance reflects the additional production associated with the Husky Assets (approximately 1,000 boe/d in 2016 from the expected closing date of May 25, 2016 until the end of 2016) plus an increase in expected 2016 production (approximately 600 boe/d) associated with active drilling on our royalty lands in the first quarter of 2016, lower than expected shut-in heavy oil volumes and positive prior period adjustments.

Freehold expects to release its Q1 2016 results after market on May 11, 2016, where it will provide further disclosure on operating and financial assumptions for 2016. 

Acquisition Financing

Freehold has entered into an agreement with RBC Capital Markets, CIBC and TD Securities, on behalf of a syndicate of underwriters, to issue, on a bought deal basis, 14,286,000 common shares at a price of $11.55 per share (the "Issue Price") for gross proceeds of approximately $165 million pursuant to the Public Offering. Freehold has also granted the underwriters an over-allotment option to purchase, on the same terms, up to an additional 2,142,900 common shares at the Issue Price. The over-allotment option is exercisable by the underwriters, in whole or in part, at any time for a period of 30 days following the closing of the Public Offering.

Concurrent with the closing of the Public Offering, the pension trust funds for employees of Canadian National Railway Company ("CN Pension Trust Funds") intend to purchase approximately 1,732,000 common shares on a non-brokered private placement basis at the Issue Price for gross proceeds of approximately $20 million pursuant to the Private Placement.

The aggregate gross proceeds to be raised by the Company pursuant to the Financing will be approximately $185 million before giving effect to any exercise of the over-allotment option by the underwriters. If the underwriters exercise the over-allotment in full, the aggregate gross proceeds to be raised by the Company pursuant to the Financing will be approximately $210 million.

Freehold expects to use the net proceeds from the Financing to complete the Transaction and the remainder to pay down a portion of its outstanding indebtedness.

Completion of the Financing is subject to certain conditions including customary regulatory and stock exchange approvals. In addition, the Public Offering will require that the Transaction close at or before the closing time of the Public Offering unless otherwise agreed to by the underwriters and Freehold. The common shares to be sold under the Public Offering will be offered in all provinces of Canada (excluding Quebec) by way of a short form prospectus. The closing of the Financing is expected to occur on or about May 25, 2016, but in any event before May 31, 2016.

Conference call

Freehold's management will hold a conference call and webcast on May 2, 2016 at 4:45 p.m. EST (2:45 p.m. MT) to present the Transaction.

Dial-in number:

Toll-free participants call: 1-800-585-8367 

Conference ID: 5083233

You may also listen via webcast at http://www.gowebcasting.com/7540

A transcript of the broadcast will be posted on the website once it becomes available.

The common shares offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.


http://www.stockwatch.com/News/Item....RU-2368683&symbol=FRU®ion=C


greenhorn schrieb am 27.04.2016, 08:45 Uhr
Danke Danke nochmal an Dich für die Vorstellung - sollte weiter UP gehen

Kostolanys Erbe schrieb am 26.04.2016, 21:22 Uhr
FRU mit golden cross.... up, daumen Embarassed


» zur Grafik


Kostolanys Erbe schrieb am 04.03.2016, 03:29 Uhr
Leider senkt FRU die monatliche Dividende, weiter Kosten gesenkt!




Freehold loses $4.08-million in 2015



2016-03-03 17:57 ET - News Release


Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. ANNOUNCES 2015 FOURTH QUARTER RESULTS AND YEAR-END RESERVES, ADJUSTS DIVIDEND

Freehold Royalties Ltd. has released its 2015 fourth-quarter results and reserves as at Dec. 31, 2015.

Results at a Glance

Three Months Ended Twelve Months Ended
December 31 December 31
----------------------------------------------------
FINANCIAL ($000s, except
as noted) 2015 2014 Change 2015 2014 Change
----------------------------------------------------------------------------
Gross revenue 33,833 43,631 -22% 135,664 199,850 -32%
Net income (loss) (7,423) 11,082 -167% (4,080) 66,447 -106%
Per share, basic and
diluted ($) (0.08) 0.15 -153% (0.05) 0.94 -105%
Funds from operations(1) 25,509 30,774 -17% 103,820 138,447 -25%
Per share, basic
($)(1) 0.26 0.41 -37% 1.15 1.95 -41%
Operating income(1) 29,186 37,584 -22% 115,152 175,192 -34%
Operating income from
royalties (%) 89 80 11% 87 78 12%
Acquisitions (143) 60,566 -100% 411,352 248,274 66%
Capital expenditures 5,607 13,500 -58% 22,295 33,701 -34%
Dividends declared 20,747 31,353 -34% 90,139 119,788 -25%
Per share ($)(2) 0.21 0.42 -50% 1.00 1.68 -40%
Net debt obligations(1) 146,949 135,810 8% 146,949 135,810 8%
Shares outstanding,
period end (000s) 98,940 74,919 32% 98,940 74,919 32%
Average shares
outstanding (000s)(3) 98,731 74,545 32% 90,505 71,029 27%
OPERATING
----------------------------------------------------------------------------
Average daily production
(boe/d)(4) 11,815 9,836 20% 10,945 9,180 19%
Average price
realizations ($/boe)(4) 30.34 47.46 -36% 33.20 58.91 -44%
Operating netback
($/boe)(1) (4) 26.85 41.54 -35% 28.83 52.30 -45%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(1) See Additional GAAP Measures and Non-GAAP Financial Measures.
(2) Based on the number of shares issued and outstanding at each record
date.
(3) Weighted average number of shares outstanding during the period, basic.
(4) See Conversion of Natural Gas to Barrels of Oil Equivalent (boe).


Dividend Announcement

Reflecting continued weakness in commodity prices, Freehold's Board of Directors has approved an adjustment to its monthly dividend to $0.04 per share from $0.07 per share. The Board of Directors has declared a dividend of Cdn. $0.04 per common share to be paid on April 15, 2016 to shareholders of record on March 31, 2016.
Including the April 15 payment, our 12-month trailing cash dividends total $0.91 per share. This dividend is designated as an eligible dividend for Canadian income tax purposes.

The dividend reduction aligns with a lower for longer commodity outlook. Freehold's goal is not to pay dividends with debt, thus maintaining strength within our balance sheet and ensuring the long term success of our business model. Freehold will continue to evaluate dividend levels on a quarterly basis, with the expectation to increase dividend levels as funds from operations improve.

2015 Fourth Quarter Highlights

Freehold delivered strong operational results in the fourth quarter of 2015. Some of the highlights included:

-- Production for Q4-2015 averaged 11,815 boe/d, a 20% increase over Q4- 2014 and a 5% increase over Q3-2015.
-- Royalties accounted for 89% of operating income and 78% of production, reinforcing our royalty focus.
-- Royalty production was up 26% compared to Q4-2014 averaging 9,249 boe/d. Growth in volumes was associated with a combination of production acquired through the year, new production from drilling on our royalty lands and a strong quarter from our audit function, including compensatory royalties on our mineral title lands, largely responsible for approximately 500 boe/d of prior period adjustments.
-- Working interest production averaged 2,566 boe/d for the quarter, up 2% when compared to the same period last year.
-- Funds from operations totalled $25.5 million ($0.26/share) in Q4-2015, down 17% from the same period last year owing to continued weakness in oil and natural gas prices.
-- Though average commodity price realizations decreased 36% reduced revenues were partly offset by the increase in production volumes, resulting in a 22% decrease in gross revenue compared to Q4-2014.
-- Q4-2015 net loss was $7.4 million (Q4-2014 net income $11.1 million) primarily due to a non-cash impairment charge of $8.0 million in our southeast Saskatchewan working interest area, as a result of the continued drop in expected future commodity prices. Lower revenues and higher depletion and depreciation also contributed to the difference.
-- Dividends declared for Q4-2015 totalled $0.21 per share, down from $0.42 per share one year ago due to the reduction in funds from operations resulting from lower commodity prices.
-- Average participation in our dividend reinvestment plan (DRIP) was 13% (Q4-2014 - 35%). DRIP proceeds for 2015 totalled $17.2 million.
-- Net capital expenditures on our working interest properties totalled $5.6 million over the quarter.
-- Basic payout ratio (dividends declared/funds from operations) for 2015 totalled 87% while the adjusted payout ratio (cash dividends plus capital expenditures/funds from operations) for the same period was 95%.
-- At December 31, 2015, net debt totalled $146.9 million, down $2.1 million from $149.0 million at September 30, 2015. This implies a net debt to 12-month trailing funds from operations ratio of 1.4 times (excluding the proforma effects of acquisitions).
Guidance Update

The table below summarizes our key operating assumptions for 2016.

-- Despite lower spending on our working interest and royalty lands, we have not revised our 2016 production forecast (9,800 boe/d). Volumes are expected to be weighted approximately 62% oil and natural gas liquids (NGLs) and 38% natural gas. We continue to maintain our royalty focus with royalty production accounting for 78% of forecasted 2016 production and 94% of operating income.
-- Continuing negative momentum in the commodity environment has resulted in a downward revision to our price assumptions. Through 2016, we are now forecasting WTI and WCS prices to average US$35.00/bbl and $31.00/bbl, respectively (previously US$50.00/bbl and $47.00/bbl). Our AECO natural gas price assumption has also been revised downwards to $2.00/mcf (previously $2.75/mcf).
-- The Canadian/U.S. exchange rate has been adjusted downwards to $0.72 (previously $0.76), reflecting the recent declining valuation of the Canadian dollar relative to the United States dollar.
-- Operating costs have been reduced to $4.75/boe from $5.00/boe representing an increasing portion of our production coming from royalties, which have no operating costs.
-- We have revised our general and administration expense to $2.65/boe from $2.85/boe, as a result of cost reduction initiatives.

-- Our capital spending budget has been reduced from $15 million to $7 million reflecting the weaker commodity outlook. A large percentage of our capital expenditures program is non-operated and the exact capital is difficult to predict. We expect to have additional information on the spending of our partners as we move through the year.
2016 Key Operating Assumptions

Guidance Dated
2016 Annual Average Mar. 3, 2016 Nov. 12, 2015
----------------------------------------------------------------------------
Daily production boe/d 9,800 9,800
WTI oil price US$/bbl 35.00 50.00
Western Canadian Select (WCS) Cdn$/bbl 31.00 47.00
AECO natural gas price Cdn$/Mcf 2.00 2.75
Exchange rate Cdn$/US$ 0.72 0.76
Operating costs $/boe 4.75 5.00
General and administrative costs (1) $/boe 2.65 2.85
Capital expenditures $ millions 7 15
Dividends paid in shares (DRIP) (2) $ millions 8 13
Weighted average shares outstanding millions 100 100
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(1) Excludes share based and other compensation.
(2) Assumes average 15% participation rate in Freehold's dividend
reinvestment plan, which is subject to change at the participants'
discretion.

............


http://www.stockwatch.com/News/Item....RU-2351752&symbol=FRU®ion=C


Kostolanys Erbe schrieb am 02.03.2016, 15:52 Uhr
Friends beer


Freehold exceeds guidance; to release results March 3



2016-03-02 09:40 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. EXCEEDS 2015 PRODUCTION GUIDANCE

Freehold Royalties Ltd. has exceeded its 2015 production guidance of 10,600 barrels of oil equivalent per day with volumes averaging 10,945 barrels of oil equivalent per day for the year. Fourth quarter 2015 volumes averaged 11,815 barrels of oil equivalent per day.

Freehold will be reporting its fourth quarter and year-end 2015 operating and financial results after market on March 3, 2016.

Freehold's primary focus is on acquiring and managing oil and gas royalties. The majority of production comes from royalty interests (mineral title and gross overriding royalties). Freehold's common shares trade on the Toronto Stock Exchange in Canada under the symbol FRU.


http://www.stockwatch.com/News/Item....RU-2351199&symbol=FRU®ion=C


[url=http://www.stockwatch.com/Chart/Hist.aspx?symbol=FRU®ion=C]» zur Grafik[/url]




greenhorn schrieb am 02.03.2016, 10:13 Uhr
FRU - ist mir untergegangen, sorry - hab aber die letzten Tage nun doch eine kleine Posi mir ins LongDepot gekauft, um 10,30 - 10,50 CAD
Danke an Kosto für den Hinweis/Vorstellung

greenhorn schrieb am 18.02.2016, 10:01 Uhr
war gestern zu geizig.....sind ja ordentlich gesprintet Smile

greenhorn schrieb am 17.02.2016, 09:35 Uhr
Danke liest sich gut, und solche Werte sind auch in Zukunft gefragt up, daumen
Dividende + Option auf steigende Ölpreise

Kostolanys Erbe schrieb am 17.02.2016, 00:00 Uhr
Nach dem ich hier im Board schon Valeura Energy vorgestellt habe, möchte ich heute einen weiteren Ölwert vorstellen.

Freehold Royalties Ltd

Hier steht mehr der Fokus Langfristinvestment in Öl!

Das Unternehmen zahlt monatlich eine Dividende von 0,07 CAD$, was aktuell eine Dividendenrendite von ca. 7,8% entspricht!

Und niedrige Kosten! Embarassed



» zur Grafik





http://www.freeholdroyalties.com/index.php?page=about_us

Freehold Royalties Ltd. is a dividend-paying oil and gas company based in Calgary, Alberta. Our royalty interests are a major contributor to our operating and financial performance and are not subject to expenses such as operating and capital costs. Our assets generate income from crude oil, natural gas, natural gas liquids, and potash. Growth is achieved through ongoing development activity on our extensive land base spanning approximately three million gross acres, and through acquisitions.

Freehold has no employees. Day-to-day operations are managed by a wholly owned subsidiary of Rife Resources Ltd. To learn more about Rife visit www.rife.com.

Freehold's shares are listed for trading on the Toronto Stock Exchange under the trading symbol FRU.

Zu Rife:

Welcome to the Rife Resources Ltd. Website

Rife is a private exploration and production company, wholly-owned by the CN Pension Trust Funds, the pension fund for employees of the Canadian National Railway Company.

Our people have expertise in geology, geophysics, petroleum engineering, land administration, finance, audit and accounting. We have interests in 610,000 gross acres of land in western Canada. Our focus areas are Lloydminster, Deep Basin, and Southeast Saskatchewan.

We also manage, through our subsidiary Rife Resources Management Ltd. the operations of Canpar Holdings Ltd. (3.8 million gross acres) and Freehold Royalties Ltd. (3.2 million gross acres). These two companies have a profitable niche of owning oil and gas royalties and mineral titles.

http://www.rife.com/

Factsheet Rife:
http://www.rife.com/upload/media_el....arch2015-f-webnocrops.pdf



Aktuelle Präsentation von Freehold:

http://www.freeholdroyalties.com/en....ntation_february_2016.pdf



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Beitrag12/13, 17.08.16, 21:26:55 
Antworten mit Zitat
Aktuelle Präsentation Stand Juni 2016:

http://www.freeholdroyalties.com/en....ation_june_2016_final.pdf
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Beitrag11/13, 15.09.16, 21:09:25 
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Freehold Royalties to pay four-cent dividend Oct. 17



2016-09-14 16:08 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. DECLARES DIVIDEND FOR OCTOBER 2016

Freehold Royalties Ltd.'s board of directors has declared a dividend of four cents per common share to be paid on Oct. 17, 2016, to shareholders of record on Sept. 30, 2016.

These dividends are designated as eligible dividends for Canadian income tax purposes.

http://www.stockwatch.com/News/Item....p;symbol=FRU&region=C
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Beitrag10/13, 16.09.16, 11:31:19 
Antworten mit Zitat
FRU - baue meine Position bei Schwäche langsam aus
Wikifolio: WFBMGF2216 - Homo proponit sed deus disponit - Es ist ein langer Weg zum Whisky-Experten - aber es ist eine schöne Zeit dahin! - gemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
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Beitrag9/13, 14.10.16, 20:38:51 
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Freehold to pay four-cent November dividend Nov. 15



2016-10-13 16:05 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. DECLARES DIVIDEND FOR NOVEMBER 2016

Freehold Royalties Ltd.'s board of directors has declared a dividend of four cents per common share to be paid on Nov. 15, 2016, to shareholders of record on Oct. 31, 2016.

These dividends are designated as eligible dividends for Canadian income tax purposes.


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Beitrag8/13, 08.11.16, 23:49:06 
Antworten mit Zitat

Freehold talks production, omits Q3 P&L from NR



2016-11-08 16:35 ET - News Release


Mr. Tom Mullane reports

FREEHOLD ROYALTIES LTD. ACHIEVES RECORD QUARTERLY PRODUCTION AND OUTLINES 2017 GUIDANCE


Freehold Royalties Ltd. has released third quarter results for the period ended Sept. 30, 2016.

RESULTS AT A GLANCE

Three months ended Nine months ended
Sept. 30, Sept. 30,
2016 2015 2016 2015
Financial ($000s, except as noted)

Gross revenue $32,923 $36,076 $90,075 $101,831
Funds from operations (1) 24,148 27,643 63,790 78,311
Per share, basic ($) 0.21 0.28 0.59 0.89
Acquisitions 68 815 162,498 411,495
Operating income (2) from
royalties (%) 93 90 93 86
Dividends declared 14,133 24,604 45,358 69,392
Per share ($) (3) 0.12 0.25 0.42 0.79

Operating

Average daily production
(boe/d) (4) 12,281 11,266 12,099 10,652
Oil and NGL (%) 55 63 59 61
Average price realizations
($/boe) (4) $28.69 $34.11 $26.50 $34.27
Operating netback ($/boe)
(2) (4) 24.99 29.52 23.09 29.57
------ ------ ------ ------

(1) For the three and nine months ended Sept. 30, 2016, funds from
operations included a $1.1-million loss upon settlement of litigation.
(2) A non-generally accepted accounting principle financial measure.
(3) Based on the number of shares outstanding at each record date.
(4) Note the conversion of natural gas to barrels of oil equivalent (boe).
President's message

The company had a strong quarter, setting a production record, averaging 12,281 barrels of oil equivalent per day, aided by organic growth within the company's portfolio and a full quarter of production from its recent acquisition, and as a result, the company has revised its 2016 production guidance from 11,700 boe per day to 12,000 boe per day. The company is also seeing activity levels rebound with 48 (2.3 net) wells drilled on its royalty lands over the quarter with higher productivity from new wells.

Freehold has established a relatively conservative dividend policy, which the company believes serves shareholders well in times of uncertainty. This quarter's dividend of 12 cents per share was safely within the company's funds from operations of 21 cents per share. The company's long-term goal is to have an adjusted payout ratio between 60 per cent to 80 per cent, and at current levels, the company is comfortably at the bottom of this range. The company expects to use excess free cash flow over and above the company's dividend to finance future acquisitions and pay down debt, keeping the company's net debt to funds from operations between 0.5 to 1.5 times.

Looking into 2017, the company remains confident that commodity prices will continue to improve, and the company is looking for indications of oil price stability prior to resetting dividend levels. The company is estimating average production of 11,000 boe per day for 2017 with continued conservatism in forecasting drilling activity.

On Nov. 25, 2016, Freehold will celebrate its 20th anniversary. Over this time frame, the company have generated superior returns and would like to thank the company's employees for their hard work, which has made this possible. From a $10-per-share initial public offering in 1996, the company has provided dividends of over $30 per share. It would like to thank its shareholders for their continuing support.

Tom Mullane, president and chief executive officer

Dividend announcement

The board of directors has declared a dividend of four cents per share, to be paid on Dec. 15, 2016, to shareholders of record on Nov. 30, 2016. The dividend is designated as an eligible dividend for Canadian income tax purposes.

Third quarter 2016 highlights:

Freehold's production averaged a record 12,281 boe per day, a 9-per-cent improvement over third quarter 2015 and a 2-per-cent increase over second quarter 2016. Gains in production were largely driven by better-than-expected third party production additions and a full quarter's production from the company's second quarter 2016 acquisition from certain affiliates of Husky Energy Inc.
Royalty production was up 16 per cent compared with third quarter 2015, averaging 10,169 boe per day, accounting for 83 per cent of production and 93 per cent of operating income.
Funds from operations totalled $24.1-million (21 cents per share) in third quarter 2016, flat over the previous quarter but down 13 per cent from last year with reduced commodity prices somewhat offset by higher production. Impacting funds from operations, Freehold settled an outstanding legal claim recognizing a loss of $1.1-million.
Freehold generated $9.8-million in free cash flow (1) over and above the company's dividend, which the company applied to outstanding debt. At Sept. 30, 2016, net debt obligations (1) totalled $87.3-million, down $10.9-million from $98.2-million at June 30, 2016. This implies a ratio of net debt to 12-month trailing funds from operations of 1.0 times. Despite challenging commodity prices, the company continues to generate an attractive netback and free cash flow.
Cash costs (1) for the quarter totalled $6.78 per boe, down from $7.34 per boe in second quarter 2016 and $8.84 per boe in third quarter 2015. Included in these costs General and Administrative (G&A) costs totalled $1.71 per boe for third quarter2016 versus $2.04 per boe in second quarter 2016 and $2.33 per boe in third quarter 2015.

Wells drilled on the company's royalty lands totalled 48 (2.3 equivalent net) in the quarter; for the first three quarters of 2016, 156 (6.1 equivalent net) wells were drilled, including 15 royalty wells on the recently acquired acreage associated with the Husky Transaction, with seven locations targeting the Shaunavon.
In third quarter 2016, Freehold issued four leases; 71 leases have been issued year-to-date in 2016, 57 relating to the second quarter 2016 Husky Transaction.
Dividends declared for third quarter 2016 totalled $0.12 per share, unchanged from the previous quarter and down from $0.25 per share one year ago.
Basic payout ratio(1) (dividends declared/funds from operations) for third quarter 2016 totalled 59 per cent while the adjusted payout ratio(1) (cash dividends plus capital expenditures/funds from operations) for the same period was 55 per cent.
(1) See Non-GAAP Financial Measures.

2016 Guidance Update

The table below summarizes the company's key operating assumptions for 2016, updated to reflect actual statistics for the first nine months and the company's current expectations for the remainder of the year.

Key Operating Assumptions

Nov. 8, Aug. 4, May 11, Mar. 3, Nov. 12,
2016 Annual Average 2016 2016 2016 2016 2015

Daily production boe/d 12,000 11,700 11,400 9,800 9,800
WTI oil price US$/bbl 43.00 40.00 40.00 35.00 50.00
Western Canadian
Select (WCS) Cdn$/bbl 38.00 34.00 34.00 31.00 47.00
AECO natural gas price Cdn$/Mcf 2.10 2.00 1.80 2.00 2.75
Exchange rate Cdn$/US$ 0.76 0.76 0.77 0.72 0.76
Operating costs $/boe 3.75 3.75 4.00 4.75 5.00
General and
administrative costs
(1) $/boe 2.35 2.40 2.50 2.65 2.85
Capital expenditures $-millions 6 7 7 7 15
Dividends paid in
shares (DRIP) (2) $-millions 5 5 8 8 13
Weighted average
shares outstanding-millions 110 110 109 100 100
----------------------------------------------------------------------------
(1) Excludes share based and other compensation.
(2) Effective with the August dividend the Board approved the suspension of
the DRIP pending further notice.
2017 Outlook

We see average production volumes of 11,000 boe per day (assuming no acquisitions), which includes expectations of 100 boe per day of shut-in working interest natural gas, 100 boe per day of shut-in heavy oil production (primarily working interest) and production additions associated with the company's strong audit function. Estimated volumes are comprised of approximately 56 per cent oil and NGL and 44 per cent natural gas. We continue to maintain the company's royalty focus with royalty production expected to account for approximately 84 per cent of production and 91 per cent of operating income.

Key Operating Assumptions

2017 Annual Average Nov. 8, 2016

Daily production boe/d 11,000
WTI oil price US$/bbl 50.00
Western Canadian Select (WCS) Cdn$/bbl 46.00
AECO natural gas price Cdn$/Mcf 3.00
Exchange rate Cdn$/US$ 0.75
Operating costs $/boe 3.25
General and administrative costs (1) $/boe 2.65
Capital expenditures $-millions 6
Weighted average shares outstanding-millions 118
----------------------------------------------------------------------------
(1) Excludes share based and other compensation.
Recognizing the cyclical nature of the oil and gas industry, the company continue to closely monitor commodity prices and industry trends for signs of changing market conditions. We caution that it is inherently difficult to predict activity levels on the company's royalty lands since the company have no operational control. As well, significant changes (positive or negative) in commodity prices (including Canadian oil price differentials), foreign exchange rates, or production rates may result in adjustments to the dividend rate.

Based on the company's current guidance and commodity price assumptions, and assuming no significant changes in the current business environment, the company expect to maintain the monthly dividend rate through the next quarter. We will continue to evaluate the commodity price environment and adjust the dividend levels as necessary (subject to the quarterly review and approval of the company's Board of Directors).

Availability on SEDAR

Freehold's 2016 third quarter interim unaudited condensed consolidated financial statements and accompanying Management's Discussion and Analysis (MD&A) are being filed today with Canadian securities regulators and will be available at www.sedar.com and on the company's website.

http://www.stockwatch.com/News/Item....p;symbol=FRU&region=C
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Beitrag7/13, 14.12.16, 23:28:21 
Antworten mit Zitat
Freehold Royalties to pay four-cent dividend Jan. 16



2016-12-14 16:18 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. DECLARES DIVIDEND FOR DECEMBER 2016


Freehold Royalties Ltd.'s board of directors has declared a dividend of four cents per common share to be paid on Jan. 16, 2017, to shareholders of record on Dec. 31, 2016.

These dividends are designated as eligible dividends for Canadian income tax purposes.

http://www.stockwatch.com/News/Item....p;symbol=FRU&region=C
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1

Beitrag6/13, 14.02.17, 23:24:38 
Antworten mit Zitat
Freehold Royalties to pay four-cent dividend March 15



2017-02-14 17:04 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. DECLARES DIVIDEND FOR FEBRUARY 2017

Freehold Royalties Ltd.'s board of directors has declared a dividend of four cents per common share to be paid on March 15, 2017, to shareholders of record on Feb. 28, 2017.

These dividends are designated as eligible dividends for Canadian income tax purposes.

About Freehold Royalties Ltd.

Freehold's primary focus is on acquiring and managing oil and gas royalties. The majority of production comes from royalty interests (mineral title and gross overriding royalties).


http://www.stockwatch.com/News/Item....p;symbol=FRU&region=C
gemäß § 34 WpHG darf der Autor zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten.
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Beitrag5/13, 03.03.17, 02:15:39 
Antworten mit Zitat
Freehold has FFO of $94.21M in 2016, hikes dividend



2017-03-02 19:34 ET - News Release



Mr. Tom Mullane reports

FREEHOLD ROYALTIES LTD. SETS QUARTERLY PRODUCTION RECORD, INCREASES DIVIDEND AND REVISES GUIDANCE UPWARDS


Freehold Royalties Ltd. has released its fourth-quarter and year-end results for the period ended Dec. 31, 2016.

RESULTS AT A GLANCE

Three Months Ended Twelve Months Ended
December 31 December 31
FINANCIAL ($000s, except as noted) 2016 2015 Change 2016 2015Change
Royalty and other revenue 39,893 33,833 18%129,968135,664 -4%
Funds from operations 30,421 25,509 19% 94,211103,820 -9%
Per share, basic ($) 0.26 0.26 0% 0.85 1.15 -26%
Acquisitions 92 (143) -164%162,590411,352 -60%
Operating income (1) from royalties (%) 93 89 4% 93 87 7%
Dividends declared 14,144 20,747 -32% 59,502 90,139 -34%
Per share ($) (2) 0.12 0.21 -43% 0.54 1.00 -46%
Net debt 73,161146,949 -50% 73,161146,949 -50%
OPERATING
Average daily production (boe/d) (3) 12,579 11,815 6% 12,219 10,945 12%
Oil and NGL (%) 56 64 -13% 58 62 -6%
Average price realizations ($/boe) (3) 33.72 30.34 11% 28.37 33.20 -15%
Operating netback ($/boe) (1) (3) 29.80 26.85 11% 24.83 28.83 -14%

(1)See Non-GAAP Financial Measures.
(2)Based on the number of shares outstanding at each record date.
(3)See Conversion of Natural Gas to Barrels of Oil Equivalent (boe).



President's Message

We see positive momentum entering 2017, with Freehold continuing to achieve production growth from its attractive property portfolio. Record production and robust drilling activity have led us to increase our 2017 production guidance and raise our dividend by 25%.

Freehold achieved record production again this quarter, marking the 12th consecutive quarterly increase and the second consecutive quarter without an acquisition. Organic growth primarily came from development in Saskatchewan and in central Alberta.

Looking forward, we are comfortable that commodity prices have found support at current levels, which is driving higher levels of drilling activity. Based on increased drilling through the fourth quarter, better than expected production through year-end and our recent acquisition in February (see Subsequent Event), we are revising our 2017 production forecast from 11,000 boe/d to a range of 11,300 boe/d to 11,800 boe/d.

We are increasing our monthly dividend from $0.04 to $0.05 per share consistent with our strategy of a 60%-80% adjusted payout ratio. Our projected adjusted payout ratio for 2017 is 65%, safely at the lower end of our payout target range. Freehold provides a low risk investment opportunity in the oil and gas industry.

Tom Mullane, President and CEO

Dividend Announcement

The Board of Directors has declared a dividend of Cdn. $0.05 per share to be paid on April 17, 2017 to shareholders of record on March 31, 2017. The dividend is designated as an eligible dividend for Canadian income tax purposes.

Subsequent Event

In keeping with our strategy of making accretive acquisitions that complement our existing portfolio, in February 2017 Freehold closed a $34 million acquisition of various gross overriding royalties and mineral title lands in the greater Dodsland area of Saskatchewan. There were 32,000 acres of royalty land acquired with current estimated production of 185 boe/d (91% oil). The transaction strengthens our position in the Dodsland Viking play, with development expected to remain strong at current commodity price levels.

A Strong Fourth Quarter

Freehold's production averaged a record 12,579 boe/d, a 6% improvement over Q4-2015 and 2% increase over Q3-2016. Gains in production were largely driven by volumes associated with our Q2-2016 acquisition, better than expected third party production additions and the strength of our audit function (over 400 boe/d of prior period adjustments in the quarter, which includes compensatory royalties on our mineral title lands).
Royalty production was up 12% compared to Q4-2015 averaging 10,351 boe/d and accounted for 93% of operating income and 82% of production.
Q4-2016 royalty and other revenue was up 18% to $39.9 million versus $33.8 million in the previous year due to increased production and higher average price realizations.
Funds from operations totaled $30.4 million, an increase of 19% due to higher volumes and commodity prices. On a per share basis, funds from operations were $0.26/share in Q4-2016, up from $0.21/share in Q3-2016.
Net income was $1.6 million compared to a $7.4 million loss in Q4-2015, which resulted from an $8.0 million impairment charge.
Freehold generated $14.1 million in free cash flow (1), over and above our dividend, which we applied to outstanding debt. As a result, at December 31, 2016, net debt totaled $73.2 million, down from $87.3 million at September 30, 2016, implying a net debt to 12-month trailing funds from operations ratio of 0.8 times.
Cash costs (1) for the quarter totaled $7.83/boe, up slightly from $7.63/boe in Q4-2015, as we saw operating costs add approximately $0.7 million ($0.60/boe) for charges relating to prior periods.
Wells drilled on our royalty lands totaled 125 (7.8 net) in the quarter, up from 48 (2.3 net) in the previous quarter.
In Q4-2016, Freehold issued 9 leases; 93 leases were issued in 2016, 63 relating to the Q2-2016 acquisition.
Dividends declared for Q4-2016 totaled $0.12 per share, unchanged from the previous quarter and down from $0.21 per share one year ago.
Basic payout ratio (1) (dividends declared/funds from operations) for Q4-2016 totaled 46% while the adjusted payout ratio (1) ((cash dividends plus capital expenditures)/funds from operations) for the same period was 53%.


(1) See Non-GAAP Financial Measures.

A Rebound in Year-End Drilling Activity

Including drilling associated with acquisitions, 281 (13.9 net) wells were drilled on our royalty lands in 2016, a 25% decrease versus 2015. The fourth quarter saw a resurgence in activity on our land with 125 gross (7.8 net) locations drilled, representing over 50% of our net annual total. Activity through the quarter was focused in the greater Dodsland area with the new operator accelerating activity and drilling 16 new locations. In southeast Saskatchewan we also saw traditional players increase activity with 25 wells drilled. In addition, incremental drilling also targeted prospects in the Alberta Viking, the Cardium and in heavy oil.

On the acquired lands in 2016, 56 locations were drilled, materially higher than our initial forecast for the year. Of these wells 37 were drilled in the fourth quarter, mostly in southwest Saskatchewan, in Alberta Viking and in the Deep Basin.

2016 Highlights- A Strong Year in a Challenging Environment

Achieved record production with volumes averaging 12,219 boe/d, representing a 12% increase versus the same period last year. Volumes were comprised of 58% oil and liquids and 42% natural gas. On the royalty side volumes averaged 9,936 boe/d, representing a 20% increase versus 2015.
Funds from operations totaled $94.2 million or $0.85/share. This was down from $103.8 million or $1.15/share in 2015 reflecting continued weakness in commodity prices.
Declared dividends were $59.5 million ($0.54/share), down from $90.1 million ($1.00/share) in 2015, reflecting lower funds from operations and a conservative payout strategy.
Ended 2016 with net debt of $73.2 million, implying net debt to funds from operations of 0.8 times. At year end we had nearly $180 million in available room within our credit facility.
Executed a major transaction, acquiring a $162 million royalty package; further diversifying our land base by adding approximately 2.5 million acres of royalty land, increasing our total royalty lands to approximately 5.9 million acres.
Proved plus probable reserves totalled 38.3 mmboe, up from 36.1 mmboe in 2015.


2017 Guidance Update

We have increased our production guidance from 11,000 boe/d to a range of 11,300 boe/d to 11,800 boe/d, due to production additions on our royalty lands along with recently added acquisition volumes. Volumes are expected to be weighted approximately 55% oil and natural gas liquids (NGL) and 45% natural gas. We continue to maintain our royalty focus with royalty production accounting for 84% of forecasted 2017 production and 91% of operating income.

We have increased our West Texas Intermediate (WTI) and Western Canadian Select (WCS) price assumptions from US$50.00/bbl and $46.00/bbl to US$52.00/bbl and $49.00/bbl respectively.

We have revised downward our 2017 AECO natural gas price assumption from $3.00/mcf to $2.60/mcf.

We have revised our G&A expense assumption from $2.65/boe to $2.60/boe reflecting the increased production guidance.

After increasing our dividend by 25% from $0.04 to $0.05 per month, we expect our 2017 adjusted payout ratio ((cash dividends plus capital expenditures)/funds from operations) to be approximately 65%.

We forecast year-end net debt to funds from operations of approximately 0.6 times based on our revised key operating assumptions.

Recognizing the cyclical nature of the oil and gas industry, we continue to closely monitor commodity prices and industry trends for signs of changing market conditions. We caution that it is inherently difficult to predict activity levels on our royalty lands since we have no operational control. As well, significant changes (positive or negative) in commodity prices (including Canadian oil price differentials), foreign exchange rates, or production rates may result in adjustments to the dividend rate.

Based on our current guidance and commodity price assumptions, and assuming no significant changes in the current business environment, we expect to maintain the monthly dividend rate through the next quarter. We will continue to evaluate the commodity price environment and adjust the dividend levels as necessary (subject to the quarterly review and approval of our Board of Directors).

2016 Reserves Information

Freehold's reserves information is included in the Company's Annual Information Form which is available on SEDAR at www.sedar.com and Freehold's website at www.freeholdroyalties.com

Conference Call Details

A conference call to discuss financial and operational results for the period ended December 31, 2016 will be held for the investment community on Friday, March 3, 2017 beginning at 6:00 am MT (8:00 am ET). To participate in the conference call, approximately 10 minutes prior to the conference call, please dial 1-800-273-9672 (toll-free in North America).

Availability on SEDAR

Freehold's 2016 audited financial statements and accompanying Management's Discussion and Analysis (MD&A) and Annual Information Form (AIF) are being filed today with Canadian securities regulators and will be available at www.sedar.com and on our website.


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Beitrag4/13, 13.04.17, 23:11:25 
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Freehold Royalties to pay five-cent dividend May 15



2017-04-13 16:34 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. DECLARES DIVIDEND FOR APRIL 2017

Freehold Royalties Ltd.'s board of directors has declared a dividend of five cents per common share to be paid on May 15, 2017, to shareholders of record on April 30, 2017.

These dividends are designated as eligible dividends for Canadian income tax purposes.


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Beitrag3/13, 10.05.17, 23:41:33 
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Freehold earns $7.08-million in Q1



2017-05-10 16:29 ET - News Release



Mr. Tom Mullane reports

FREEHOLD ROYALTIES LTD. ANNOUNCES ANOTHER QUARTER OF RECORD PRODUCTION

Freehold Royalties Ltd. has released first quarter results for the period ended March 31, 2017.

Results at a Glance

Three Months Ended
March 31
FINANCIAL ($000s, except as noted) 2017 2016 Change
Royalty and other revenue 41,091 24,933 65%
Net income (loss) 7,088 (8,590) 183%
Per share, basic and diluted ($) 0.06 (0.09) 167%
Funds from operations 32,069 15,500 107%
Per share, basic ($) 0.27 0.16 69%
Operating income (1) 37,084 20,292 83%
Operating income from royalties (%) 91 97 -6%
Acquisitions 33,352 219 -
Capital expenditures 712 2,084 -66%
Working interest dispositions 288 - -
Dividends declared 15,338 17,845 -14%
Per share ($) (2) 0.13 0.18 -28%
Net debt 76,030 149,197 -49%
Shares outstanding, period end (000s) 118,018 99,284 19%
Average shares outstanding (000s) (3) 117,956 99,093 19%
OPERATING
Average daily production (boe/d) (4) 12,753 11,974 7%
Oil and NGL (%) 56 63 -11%
Average price realizations ($/boe) (4) 34.88 22.23 57%
Operating netback ($/boe) (1) (4) 32.31 18.62 74%
(1) See Non-GAAP Financial Measures.
(2) Based on the number of shares issued and outstanding at each record date.
(3) Weighted average number of shares outstanding during the period, basic.
(4) See Conversion of Natural Gas to Barrels of Oil Equivalent (boe).



President's Message

Freehold achieved record production and solid cash flow results again this quarter, marking the 13th consecutive quarterly production increase and the third consecutive on a per share basis. We are maintaining our 2017 production forecast between 11,300 - 11,800 boe/d after adjusting for the disposition of non-core working interest assets (see Subsequent Events), aligning with our royalty focus.

After increasing our dividend by 25% earlier this year, we are forecasting an adjusted payout ratio for 2017 of 62%, safely at the lower end of our target adjusted payout range of 60%-80%. As a leading royalty oil and gas corporation, Freehold's objective is to deliver growth and low risk attractive returns to shareholders over the long term which we have continued to provide in this reporting period.

Tom Mullane, President and CEO

Subsequent Events

With our continued emphasis on royalties, in April 2017 Freehold sold all of its working interest assets located in southeast Saskatchewan for $29 million, including adjustments. Total production and operating income associated with these assets in 2016 was approximately 750 boe/d and $4.3 million respectively. Related decommissioning liabilities removed as a result of this sale amounts to $4.8 million (over 300 gross wells plus related facilities). These dispositions reduce capital expenditure requirements and cash costs, further improving our risk profile.

With the objective to reduce cash costs, Freehold made the decision to reduce its credit facilities to $180 million (from $260 million). This decision aligns with keeping our net debt to funds from operations between 0.5-1.5 times. We currently have over $110 million of unused capacity and in addition, we have the ability to increase our credit facilities should it be needed.

2017 First Quarter Highlights

Freehold's production averaged a record 12,753 boe/d, a 7% improvement over Q1-2016 and 1% over Q4-2016. Gains in production were largely driven by royalty acquisitions, drilling activity on our royalty lands and a strong quarter from our audit function (over 300 boe/d of prior period adjustments).
Royalty production was up 13% compared to Q1-2016, averaging 10,701 boe/d. Royalty production increased 3% on a per share basis versus Q4-2016.
Royalty interests accounted for 84% of total production and contributed 91% of operating income in Q1-2017, reinforcing our royalty focus.
Wells drilled on our royalty lands totaled 150 (8.6 net) in the quarter, up from 85 (3.4 net) in Q1-2016 and 125 (7.8 net) in the previous quarter.
In Q1-2017, Freehold issued 25 new lease agreements with 11 companies, compared to 9 issued in Q4-2016 and 2 leases in Q1-2016, highlighting the success of our recently created leasing team.
Freehold closed a $34 million acquisition of various gross overriding royalties and mineral title lands in the greater Dodsland area of Saskatchewan. Freehold acquired 32,000 acres of royalty lands with estimated production of 185 boe/d (91% oil) at the time of closing.
Funds from operations totaled $32.1 million, an increase of 107% compared to Q1-2016 largely due to the increase in revenue. On a per share basis, funds from operations was $0.27/share in Q1-2017 up from $0.16/share in Q1-2016.
Freehold generated $17.2 million in free cash flow (1), over and above our dividend, which we applied to outstanding debt. At March 31, 2017, net debt totaled $76 million resulting in a net debt to 12-month trailing funds from operations ratio of 0.7 times.
Cash costs (1) for the quarter totaled $7.66/boe, down from $8.65/boe in Q1-2016. These costs are typically higher in the first quarter and with the April 2017 disposition of our southeast Saskatchewan working interest assets, we expect cash costs to continue to trend downwards, enhancing our netback.
Dividends declared for Q1-2017 totaled $0.13 per share, up slightly from the previous quarter and down from $0.18 per share one year ago. In March 2017, Freehold announced an increase to its monthly dividend from $0.04 to $0.05 per share.
Basic payout ratio (1) (dividends declared/funds from operations) for Q1-2017 totaled 48% while the adjusted payout ratio (1) ((cash dividends plus capital expenditures)/funds from operations) for the same period was 46%.


(1) See Non-GAAP Financial Measures.

Guidance Update

The table below summarizes our key operating assumptions for 2017.

We are maintaining our 2017 production range of 11,300-11,800 boe/d, after adjusting for the disposition of working interest volumes described in Subsequent Events.
Volumes are expected to be weighted approximately 55% oil and natural gas liquids (NGL) and 45% natural gas.
We continue to improve our royalty focus with royalty production accounting for 87% of forecasted 2017 production (up from 84%) and 94% of operating income (up from 91%).
We are maintaining our West Texas Intermediate (WTI) and Western Canadian Select (WCS) price assumptions at US$52.00/bbl and $49.00/bbl and our AECO natural gas price assumption at $2.60.
Our operating costs forecast is revised downwards to $2.50 per boe (from $3.25 per boe) as a result of the working interest property dispositions which closed in April 2017.
Based on our current $0.05 monthly dividend level, we expect our 2017 adjusted payout ratio ((cash dividends plus capital expenditures)/funds from operations) to be approximately 62%.
We forecast year-end net debt to funds from operations of approximately 0.3 times based on our revised key operating assumptions.


Conference Call Details

A conference call to discuss financial and operational result for the period ended March 31, 2017 will be held for the investment community on Thursday, May 11, 2017 beginning at 6:00 am MT (8:00 am ET). To participate in the conference call, approximately 10 minutes prior to the conference call, please dial 1-800-273-9672 (toll-free in North America).

Availability on SEDAR

Freehold's 2017 first quarter interim unaudited condensed consolidated financial statements and accompanying Management's Discussion and Analysis (MD&A) are being filed today with Canadian securities regulators and will be available at www.sedar.com and on our website.

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Beitrag2/13, 13.06.17, 22:39:57 
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Freehold Royalties to pay five-cent dividend July 17



2017-06-13 16:33 ET - News Release



Mr. Matt Donohue reports

FREEHOLD ROYALTIES LTD. DECLARES DIVIDEND FOR JUNE 2017

Freehold Royalties Ltd.'s board of directors has declared a dividend of five cents per common share to be paid on July 17, 2017, to shareholders of record on June 30, 2017.

These dividends are designated as eligible dividends for Canadian income tax purposes.

Freehold's primary focus is on acquiring and managing oil and gas royalties. The majority of production comes from royalty interests (mineral title and gross overriding royalties).


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Beitrag1/13, 10.08.17, 22:49:56 
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Freehold earns $13.08-million in Q2



2017-08-09 18:35 ET - News Release



Mr. Tom Mullane reports

FREEHOLD ACHIEVES RECORD ROYALTY PRODUCTION, INCREASES GUIDANCE

Freehold Royalties Ltd. has released second quarter results for the period ended June 30, 2017.

RESULTS AT A GLANCE

Three months ended Six months ended
June 30 June 30
2017 2016 2017 2016
Financial ($000s, except as noted)
Royalty and other revenue $38,430 $32,219 $79,521 $57,152
Net income (loss) 13,084 (2,249) 20,172 (10,839)
Per share, basic and diluted ($) 0.11 (0.02) 0.17 (0.11)
Funds from operations 31,769 24,142 63,838 39,642
Per share, basic ($) 0.27 0.23 0.54 0.39
Operating income (1) 35,235 28,011 72,319 48,303
Operating income from royalties (%) 97 91 94 94
Acquisitions 1,267 162,211 34,619 162,430
Capital expenditures 1,139 753 1,851 2,837
Working interest dispositions 28,808 - 29,096 -
Dividends declared 17,705 13,380 33,043 31,225
Per share ($) (2) 0.15 0.12 0.28 0.30
Net debt 49,819 98,191 49,819 98,191

Operating
Average daily production (boe/d) (3) 12,589 12,041 12,670 12,006
Oil and NGL (%) 54 59 55 61
Average price realizations ($/boe) (3) 32.98 28.48 33.93 25.37
Operating netback ($/boe) (1) (3) 30.76 25.57 31.54 22.11

(1) A non-generally accepted accounting principle financial measure.
(2) Based on the number of shares issued and outstanding at each record date.
(3) Based on the conversion of natural gas to barrels of oil equivalent.



President's message

Freehold achieved record royalty production and solid cash flow results in second quarter 2017, marking the fourth consecutive quarter of increasing royalty production on a per-share basis. We are revising our 2017 production guidance up 500 barrels of oil equivalent per day to 11,800 to 12,300 boe per day with better-than-expected audit recoveries and operating results. At current dividend levels, we are forecasting an adjusted payout ratio for 2017 of 61 per cent, safely within our target adjusted payout range of 60 per cent to 80 per cent. Not only are we growing royalty production on a per-share basis, we exited the quarter with lower debt resulting in net debt to 12-month trailing funds from operations of 0.4 time (net debt of $50-million). In second quarter 2017, Freehold issued 12 new lease agreements for a cumulative total of 37 new leases in the first half of 2017, exceeding the entire 2016 new lease count as we deliver continued organic growth. Our quarter was in line with Freehold's objective to deliver growth and low-risk attractive returns to shareholders over the long term.

Tom Mullane

President and chief executive officer

Dividend announcement

The board of directors has declared a dividend of five cents per share to be paid on Sept. 15, 2017, to shareholders of record on Aug. 31, 2017. The dividend is designated as an eligible dividend for Canadian income tax purposes.

Guidance update

The attached guidance update table summarizes the company's key operating assumptions for 2017.

The company is increasing its 2017 production range to 11,800 to 12,300 boe per day (previously 11,300 to 11,800 boe per day), as a result of higher-than-expected results through the first half of the year, mostly due to drilling activity and prior-period adjustments. The company does not include the effects of future acquisition activity in its forecasts. Also, minimal prior-period adjustments are in its forecast as the company does not record the effects of audit and compliance activities until revenue collection is certain.

Volumes are expected to be weighted approximately 55 per cent oil and natural gas liquids (NGL) and 45 per cent natural gas.

The company continues to improve its royalty focus with royalty production accounting for 88 per cent of forecasted 2017 production (up from 87 per cent) and 95 per cent of operating income (up from 94 per cent).

The company is reducing its West Texas Intermediate price assumption to $50 (U.S.) per barrel (previously $52 (U.S.) per bbl). Western Canadian Select remains unchanged due to positive effects of the declining light/heavy oil differentials. Its AECO natural gas price assumption remains at $2.60 per thousand cubic feet.

The Canadian-dollar/U.S.-dollar exchange rate has been adjusted upward to 77 cents from 76 cents as a result of recent Canadian-dollar appreciation and market expectations for the rest of the year.

Its operating costs forecast is revised downward to $2.40 per boe (from $2.50 per boe) and general and administrative costs to $2.50 per boe (from $2.60 per boe) as a result of the company's increased royalty production.

Based on its current five-cent monthly dividend level, the company expects its 2017 adjusted payout ratio ((cash dividends plus capital expenditures)/funds from operations) to be approximately 61 per cent.

The company continues to forecast year-end net debt to funds from operations of approximately 0.3 time based on its revised key operating assumptions.

KEY OPERATING ASSUMPTIONS
Guidance dated
2017 annual average Aug. 9, 2017 May 10, 2017 March 2, 2017 Nov. 8, 2016

Daily production boe/d 11,800-12,300 11,300-11,800 11,300-11,800 11,000
West Texas Intermediate crude oil U.S.$/bbl $50.00 $52.00 $52.00 $50.00
Western Canadian Select crude oil Cdn$/bbl 49.00 49.00 49.00 46.00
AECO natural gas Cdn$/Mcf 2.60 2.60 2.60 3.00
Exchange rate Cdn$/U.S.$ 0.77 0.76 0.76 0.75
Operating costs $/boe 2.40 2.50 3.25 3.25
General and administrative costs (1) $/boe 2.50 2.60 2.60 2.65
Capital expenditures $ millions 4 4 6 6

(1) Excludes share-based compensation.



Recognizing the cyclical nature of the oil and gas industry, the company continues to closely monitor commodity prices and industry trends for signs of deteriorating market conditions. It cautions that it is inherently difficult to predict activity levels on its royalty lands since it has no operational control. As well, significant changes (positive or negative) in commodity prices (including Canadian oil price differentials), foreign exchange rates or production rates may result in adjustments to the dividend rate.

Based on the company's current guidance and commodity price assumptions, and assuming no significant changes in the current business environment, the company expects to maintain the current monthly dividend rate through the next quarter. It will continue to evaluate the commodity price environment and adjust the dividend levels as necessary (subject to the quarterly review and approval of its board of directors).

Conference call details

A conference call to discuss financial and operational result for the period ended June 30, 2017, will be held for the investment community on Aug. 10, 2017, beginning at 6 a.m. MT (8 a.m. ET). To participate in the conference call, approximately 10 minutes prior to the conference call, please dial 1-800-273-9672 (toll-free in North America).

Availability on SEDAR

Freehold's second quarter 2017 interim unaudited condensed consolidated financial statements and accompanying management's discussion and analysis are being filed today with Canadian securities regulators and will be available at SEDAR and on the company's website.

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