Jefferies lowered the firm’s price target on ARC Resources (AETUF) to C$30 from C$33 and keeps a Buy rating on the shares after catching up with management and confirming the new issues at Attachie are casing deformation caused by faulting and increased water volumes cleaning up recent wells. These Attachie issues are driving the recent stock underperformance and throw into question the optimal casing design, landing zone and spacing/completion intensity of future pads, the analyst tells investors.
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