In a press release dated August 17, 2015, Twin Butte Energy Ltd. (TSX:TBE) confirmed "that its cash dividend in respect of August 2015 production will be $0.003 per share. The eligible dividend will be paid on September 15, 2015 to shareholders of record on August 31, 2015.
Also according to The Legacy, TBE currently has a consensus rating of “Hold” and an average target price of C$1.05, based on the ratings of seven equities research analysts.
According to publication The Legacy and other sources, on September 1, 2015 Twin Butte Energy Director Thomas Joseph Greschner purchased 240,000 TBE shares. The shares were acquired at an average price of C$0.36 per share, with a total value of C$86,400.00. Greschner also acquired 258,000 shares of TBE stock on August 31. Those shares were purchased at an average price of C$0.38 per share, for a total transaction of C$99,304.20.
On August 12 Twin Butte Energy Ltd. reported a successful second quarter 2015, including:
- Generated record funds flow of $57 million ($0.16/share).
- Continued the transition to a medium gravity, oil-focused producer with medium barrels accounting for 52% of oil production in the second quarter.
- Production of 17,351 boe per day as budgeted.
- Reduced per boe operating and transportation costs by 13% to $19.21 as compared to Q2 2014 costs of $22.12 per boe.
- Reduced net debt by $26.2 million to $307.7 million from March 31, 2015, providing a debt to cash flow ratio of 1.3 times on an annualized basis. Net debt has been reduced by $45.6 million year to date.
- Completed a capital program of $17.0 million, including the drilling of 6 gross (6 net) wells.
- Declared $10.5 million in second quarter dividends.
- Maintained financial discipline by managing total payout to 48% in response to low oil prices.
- Expanded land positions in both the Provost medium oil and Lloydminsterhorizontal heavy oil fairways.