Last C$2.21 CAD
Change Today +0.09 / 4.25%
Volume 156.9K
PMT On Other Exchanges
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As of 11:04 AM 07/24/14 All times are local (Market data is delayed by at least 15 minutes).

perpetual energy inc (PMT) Snapshot

Open
C$2.15
Previous Close
C$2.12
Day High
C$2.23
Day Low
C$2.12
52 Week High
07/2/14 - C$2.37
52 Week Low
10/1/13 - C$0.94
Market Cap
329.2M
Average Volume 10 Days
413.8K
EPS TTM
C$-0.27
Shares Outstanding
148.9M
EX-Date
10/28/11
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for PERPETUAL ENERGY INC (PMT)

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perpetual energy inc (PMT) Details

Perpetual Energy Inc., an independent energy company, explores, develops, and markets oil and gas based energy in Canada. It produces heavy oil, tight gas, liquids-rich gas, and bitumen. The company has liquids-rich natural gas assets in the deep basin of west central Alberta; and heavy oil production in eastern Alberta; and oil sands leases in northern Alberta. It has a total proved and probable oil and gas reserves of 62.4 million barrels of oil equivalent. Perpetual Energy Inc. is headquartered in Calgary, Alberta.

perpetual energy inc (PMT) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$405.0K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$315.0K
Vice President of Land, Acquisitions & Divest...
Total Annual Compensation: C$275.0K
Vice President of Corporate & Engineering Ser...
Total Annual Compensation: C$260.0K
Vice President of Marketing
Total Annual Compensation: C$305.0K
Compensation as of Fiscal Year 2013.

perpetual energy inc (PMT) Key Developments

Perpetual Energy Inc. Announces the Closing of its Offering of CAD 125 Million of 8.75% Senior Unsecured Notes Due July 23, 2019

Perpetual Energy Inc. announced the closing of its offering of CAD 125 million aggregate principal amount of 8.75% Senior Unsecured Notes due July 23, 2019 at par. The Notes were offered in each Province of Canada on a private placement basis through a syndicate of underwriters led by Scotiabank, BMO Capital Markets and CIBC as joint book runners and including National Bank Financial, TD Securities, First Energy Capital and Peters & Co.

Perpetual Energy Inc. Confirms Closing of East Edson Joint Venture; Announces Intention to Issue $100 Million of Senior Unsecured Notes

Perpetual Energy Inc. announced that it has successfully closed the previously announced East Edson Joint Venture (the East Edson JV). Proceeds to Perpetual include $50 million for the sale of a 50% gross overriding royalty on existing producing assets (the Producing Royalty) and an additional $70 million to fund Wilrich development activities to earn a second royalty (the Drilling Royalty). In combination, in exchange for the total acquisition and funding commitment of $120 million, the Drilling and Producing Royalties entitle the joint venture partner to receive on a priority basis 5.6 MMcf/d of natural gas from the East Edson Property plus oil and associated natural gas liquids (NGL) from July 1, 2014 to December 31, 2022 and declining thereafter at 10% per year until the Drilling Royalty and the Producing Royalty terminate on December 31, 2034. NGL yields are expected to average approximately 23 bbl/MMcf for the duration of the East Edson JV. Upon closing, $100 million of the total proceeds was placed in escrow accounts for the committed development of the East Edson JV properties. Activities are underway to execute close to $70 million in capital projects utilizing the escrowed funds prior to the end of 2014, with the remaining funds from escrow expected to be spent in 2015. The company also announced that it intends to issue $100 million of 5-year Senior Unsecured Notes (the Notes). The Notes will be direct senior unsecured obligations of Perpetual ranking pari passu with all other present and future unsecured and unsubordinated indebtedness of the Company. The Notes are being offered in each Province of Canada and in the United States on a private placement basis through a syndicate of investment dealers, without the filing of a prospectus or registration statement. Closing is expected to occur on or about July 23, 2014 following a limited marketing process and determination of pricing. The net proceeds from this offering will be used for general corporate purposes and to redeem with cash Perpetual's $100 million 7.25% convertible debentures, due to mature on January 31, 2015. The 7.25% convertible debentures trade on the Toronto Stock Exchange under the symbol PMT.DB.D. Perpetual intends to provide notice for the early redemption of the 7.25% convertible debentures shortly after closing of the Notes offering. This offering not only provides Perpetual with the ability to repay these debentures earlier than their maturity on January 31, 2015, but benefits the Company by reducing exposure of Perpetual's credit capacity to future commodity prices. Moreover, the issuance of the Notes significantly extends the term of approximately one-third of the Company's total debt to provide increased certainty for funding planned capital investment projects which are expected to grow future funds flow. Perpetual's lenders under its credit facility have approved issuance of the Notes, subject to an adjustment to the borrowing base from $120 million to $100 million to account for future interest payment obligations on the Notes. Pro forma the Notes issuance and subsequent repayment of the 7.25% convertible debenture series, Perpetual expects to have net bank debt outstanding of approximately $31 million, as well as $100 million of joint venture cash on hand held in escrow accounts to be drawn exclusively for the development activities Perpetual has committed to execute in 2014 and 2015 in the East Edson JV area. Furthermore, close to 75% of Perpetual's total outstanding debt will have a term extending into 2018 and beyond.

Perpetual Energy Inc. - Special Call

Perpetual Energy Inc. - Special Call

 

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Price/Book 4.0x
Price/Cash Flow 6.6x
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