herve villachaeze

Penn West Energy Distributes High Income Rate to Shareholders

Jack: This is from the May 6 earnings release. I read into this that they are pleased to be able to keep the payout the same and apply cash elsewhere. "Penn West's funds flow is expected to be $2.7 billion to $2.9 billion for this year. Should commodity prices remain reasonably close to the current forward strip prices, our payout ratio would remain below our targeted range. This lower payout ratio(1) would afford us the opportunity to apply additional funds to debt repayment, adding strength to our balance sheet(2)."