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    Laique Ahmad Amir Arif

    Research Analyst at National Bank Financial

    Laique Ahmad Amir Arif is an analyst at National Bank Financial with a focus on the Canadian energy sector, specializing in the coverage of leading oil and gas companies including Vermilion Energy Inc. and Baytex Energy Corp. He is recognized for delivering incisive investment research and analysis, frequently participating in industry earnings calls and contributing to ownership insights. Amir Arif's career spans several years as a sell-side energy analyst, with prior experience at institutions such as ATB Capital Markets before joining National Bank Financial. He holds professional securities analyst credentials and maintains a strong reputation for industry diligence, though publicly disclosed performance metrics and rankings are limited.

    Laique Ahmad Amir Arif's questions to Saturn Oil & Gas (OILSF) leadership

    Laique Ahmad Amir Arif's questions to Saturn Oil & Gas (OILSF) leadership • Q4 2024

    Question

    Laique Ahmad Amir Arif of Canaccord Genuity asked about the sustainability of Saturn's improved cost structure, the reasons for technical revisions to reserves, the company's go-forward hedging strategy, and the potential inventory for Spearfish open-hole multilateral wells.

    Answer

    CEO John Jeffrey stated that while Q1 costs will be seasonally higher, he is confident the full-year operating costs will remain below the $20/barrel target, similar to 2024 levels. He explained that technical revisions were primarily due to high-grading the drilling inventory after an acquisition, which involved dropping about 30 locations. On hedging, Jeffrey confirmed the strategy is to maintain a ~55% hedge on a 12-month forward basis to provide flexibility. CDO Justin Kaufmann added that they see about 30 potential Spearfish wells, representing nearly $100 million in NPV at a $70 price deck, with the first well showing over a 100% rate of return.

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    Laique Ahmad Amir Arif's questions to Saturn Oil & Gas (OILSF) leadership • Q4 2024

    Question

    Laique Ahmad Amir Arif of National Bank Financial inquired about the sustainability of Saturn's improved cost structure, the reasons for technical revisions in reserves, the company's current hedging strategy, and the potential inventory of open-hole multilateral wells in the Spearfish play.

    Answer

    CEO John Jeffrey stated that while Q1 operating costs will be seasonally higher, he is confident the full-year average will remain below the $20/BOE guidance, similar to 2024 levels. He clarified that technical reserve revisions were primarily due to high-grading the drilling inventory and dropping about 30 locations from an acquisition. On hedging, Jeffrey explained the target is to maintain hedges on ~55% of production over the next 12 months to provide flexibility. CDO Justin Kaufmann added that the Spearfish play has an estimated 30-well inventory, representing approximately $100 million in NPV, with wells showing over a 100% rate of return at a $70 price deck.

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    Laique Ahmad Amir Arif's questions to VERMILION ENERGY (VET) leadership

    Laique Ahmad Amir Arif's questions to VERMILION ENERGY (VET) leadership • Q4 2024

    Question

    Laique Ahmad Amir Arif from ATB Capital Markets asked for details on Vermilion's future German exploration drilling plans, the total capital cost for the successful Wisselshorst well, and how the operating costs of the newly acquired Westbrick assets compare to Vermilion's legacy Deep Basin assets.

    Answer

    President and CEO Dion Hatcher confirmed plans for two German wells per year, with potential for more capital allocation given recent success. VP Darcy Kerwin specified the Wisselshorst well's total capital was CAD $40 million gross. Regarding Westbrick, Mr. Hatcher noted its operating costs were slightly lower than Vermilion's legacy assets, and VP Brandon McCue highlighted significant synergy potential from combining infrastructure to optimize production and reduce costs.

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    Laique Ahmad Amir Arif's questions to BAYTEX ENERGY (BTE) leadership

    Laique Ahmad Amir Arif's questions to BAYTEX ENERGY (BTE) leadership • Q2 2024

    Question

    Laique Ahmad Amir Arif of ATB Capital Markets questioned if the second Duvernay pad design differs from the first, whether Peavine's 20,000 bbl/d production is sustainable, and the well cost differences in the Eagle Ford's black oil window.

    Answer

    President and CEO Eric Greager explained the second Duvernay pad will have nuanced stimulation changes based on an evolving machine learning model. On Peavine, he acknowledged its outperformance but guided for a sustainable long-term rate closer to 15,000 bbl/d. For the Eagle Ford, he and COO Chad Lundberg confirmed that wells in the shallower, black oil window are about $0.5 million cheaper to drill due to lower pressure, though this requires more intense stimulation.

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    Laique Ahmad Amir Arif's questions to BAYTEX ENERGY (BTE) leadership • Q1 2024

    Question

    Laique Ahmad Amir Arif asked for specific details on the Medina refrac, including its cost and incremental production rate. He also questioned the constraints on Peavine's growth, the rationale for the large Duvernay acreage addition, and the company's hedging philosophy for periods beyond 2024.

    Answer

    President and CEO Eric Greager explained the Medina refrac cost approximately USD 4 million and added over 650 BOE/d in incremental production. He clarified that Peavine's growth is constrained by the development pace agreed upon with the local community, not by capital or reservoir quality. Greager also expressed excitement for the high-quality Duvernay acreage addition, which is on-trend with existing positions. Regarding hedging, he stated the policy is for the hedge percentage to decrease linearly from 40% as the company's leverage ratio falls below 1.0x.

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