Athlon Energy reports strong Q2 gains in production, cash flow

|About: Athlon Energy Inc. (ATHL)|By:, SA News Editor

Athlon Energy (NYSE:ATHL) reports solid Q2 results, with distributable cash flow of $0.89/share and bolt-on Midland Basin acquisitions the company says are accretive to EPS and DCFPS.

Total Q2 discretionary cash flow rose 105% Y/Y to $83.5M vs. $40.8M for the year-ago quarter.

Average daily production jumped 96% to 21.9M boe/day vs. 11.2M boe/day in the year-ago quarter; oil volumes increased 104%.

Including new acquisitions, ATHL now expects FY 2014 daily production of 24.5K-25K boe/day, up 100% Y/Y; for Q3, foresees 26.5K-27.5K boe/day, up 110%.

Topeka Capital raises its ATHL target price to $60, and shares are more compelling following a recent sell-off (