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TSE:WCP
Much talked about in terms of dividend potential. Efficiencies are being improved, wells coming on better than expected and decline weight is being brought down and net backs are very good because oil weighting is very high. Have said they will be paying a dividend and he thinks it is imminent. He thinks it will be very sustainable and yet the company can continue to grow at 7%.
Oil weighted exploration and production company in Western Canada. Strong player in the Viking area in west central Saskatchewan. Producing about 17,000 barrels per day and 71% of it is oil. Forecasting about 30,000 barrels per day in the next 4 years. Growing by both drill bit and acquisitions. Once they have this steady stream production, they can be a dividend payer.
70% light oil producer. A very sustainable business model for the ability to pay a dividend. Anticipated in the next 3 months. Because of capital efficiencies and decline rates in hedging, they are building the ability to pay a dividend very sustainable at $90 oil. Target multiple for him would be 6.5X for an $11 stock.
Scheduled to pay a dividend of $.60 per year (about an 8% yield). In the Pembina/Cardium oil area as well as the Peace River Arch of Valhalla with Montney oil. Producing about 16,000 barrels per day. Have been growing by acquisition and the drill bit. Excellent management. Sees the dividend being sustained both in the mid-and long-term.