Quattro Exploration and Production Ltd. (QXP:TSX-V) is a Canadian junior oil and gas company focused on the exploration and development of resource properties in Western Canada and Guatemala.
Quattro is currently operating in three core regions in western Canada, two with active production; NE British Columbia and East Central Alberta; and one developing operation in SW Saskatchewan. The company also holds an interest in approximately 320,000 acres of land in the Petén Basin of Guatemala. Quattro currently operates 8 facilities in Canada as well as 300 kilometers of active pipelines.
Production during the third quarter of 2015 was relatively flat year-over-year at 1,476 boe/d due to some shut-in restrictions. By the end of September, production was 1,580 boe/d. Cost of operations during the third quarter was a mere $13.09 per barrel despite the restricted production. Cash flow for Q3/15 was $908,777 or $0.022 per share and for the 9 months was $2,905,332 or $0.07 per share. Through the drilling, remediation and workover of 240 wells, Quattro has the potential to expand to approximately 2,500 boe/d by the end of 2015 and up to 6,000 boe/d in the near term.
Quattro has sufficient capital to maintain operations and is managing net debt at below 1X annual cash flow. With all of the pain, negative articles, and poor investor sentiment in the oil and gas industry, Quattro continues to produce positive results, is taking advantage of inexpensive and accretive acquisitions, and is poised to more than double production in the next 12 months.
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