ARC Resources Still Overvalued
ARC Resources reported first-quarter production volumes of 115.1 thousand barrels of oil equivalent per day compared with 124.2 mboe/d in the year-ago quarter. Lower production was driven by the divestment of ARC’s Saskatchewan assets in 2016. ARC maintained its 2017 production guidance of 118-124 mboe/d, and expects exit production to exceed 130 mboe/d. The company also reiterated its 2017 target operating expenses guidance to CAD 6.30-CAD 6.70/boe although first quarter expenses came in slig...ARC Resources is engaged in the exploration for, development and production of crude oil, natural gas and natural gas liquids in western Canada. As of Dec 31 2011, net proven reserves for light and medium oil, heavy oil, natural gas and natural gas liquids were 87,905 thousand barrels, 1,801 thousand barrels, 1,197 billion cubit feet and 15,002 thousand barrels, respectively.
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