Delphi lifts cash flow

Article Excerpt

DELPHI ENERGY $0.87 (Toronto symbol DEE; TSINetwork Rating: Speculative) (403-265-6171; www.delphienergy.ca; Shares outstanding: 185.5 million; Market cap: $157.7 million; No dividends paid) explores for, develops and produces oil and natural gas. About 59% of its output is gas; the remaining 41% is oil. In the quarter ended March 31, 2018, Delphi’s cash flow per share rose 20.0%, to $0.06 from $0.05 a year earlier. The higher cash flow is due to a 16.1% jump in production. It rose to an average 9,515 barrels of oil equivalent per day from 8,198 barrels. The gain more than offset lower natural gas prices. The company’s $129.8 million in long-term debt is a high but manageable 82% of its currently depressed market cap. Delphi Energy is a buy for aggressive investors. investors. …