Albert Alfonso
Dividend investing, dividend growth investing, master limited partnerships, oil & gas

Penn West: The Turnaround Has Started

Western Canada based Penn West Petroleum (NYSE:PWE) has had a rocky ride over the past year or so. The company completed a major Strategic Review late last year in order to improve its fundamentals. Along with a dividend reduction, Penn West has been selling off high cost production in order to decrease the size of its footprint as well as lower its capital needs. This turnaround appears to have been largely successful and the stock is finally showing signs of life.

Q1 2014 Overview

Before I get into Penn West's outlook, let us review its most recent quarter.

All percentages shown are quarter-over-quarter figures

    Production: 110,795 BOE/D, down 11% from 123,995 BOE/D FFO: $279 million, up 29% ...
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