The transaction is expected to be immediately accretive to key 2020 metrics, including: free cash flow per share
, cash return on capital invested ('CROCI'), net asset value, G&A per Boe, LOE per Boe, leverage ratio and inventory life.
Our outlook remains positive, underpinned by continued progress on our key free cash flow drivers towards our ambition to exceed [pounds sterling]1 of free cash flow per share
in the mid-term, together with the steadily improving health of the Trent 1000 fleet.
Tegna expects the transaction to be EPS accretive within a year and immediately accretive to free cash flow per share
"As a portfolio, our increased level of large project initiatives in the Permian Basin will be balanced by sustained investment in shorter cycle and less capital-intensive projects in the Eagle Ford Shale." Based on initial plans for capital allocation within the combined portfolio, Callon forecasts its free cash flow breakeven WTI crude oil price to progress to under $50/Bbl by 2021.Callon expects this combination to be immediately accretive to free cash flow per share
in 2020 with positive free cash flow generation of over $100M at current strip pricing while maintaining double-digit production growth.
Executive Chair Geoff Wilding said: "Victoria achieved another record year in 2019 making it the sixth consecutive year of growth in underlying earnings; and free cash flow per share
, and operating margins, despite continuingly challenging market conditions.
The transaction is expected to be accretive on a free cash flow per share
basis for LLA shareholders.
In the mid-term it is aiming for free cash flow per share
to exceed 1 pound, up from 15 pence per share it made in 2017.
"We are excited about the progress we have made in executing our strategic turnaround plan, which followed an exhaustive and comprehensive evaluation of our business, and which has prioritized driving traffic, reducing SG&A expenses as a percentage of sales, reducing our leverage levels over time, driving profitability and generating free cash flow per share
," Bloom commented.
Van Beurden added: "With our continued strong focus on returns and growth in free cash flow per share
I want to create a world-class investment case for Shell shareholders."
"Starting this quarter, in addition to our other performance metrics, free cash flow per share
will now be used as one of our key performance indicators." said Forbes.