July 16, 2010 / 12:31 AM / in 7 years

Provident Energy eyes low end of earnings guidance

VANCOUVER, July 15 (Reuters) - Provident Energy Trust PVE_u.TO said on Thursday its 2010 earnings will likely be at the lower end of its previous guidance, as it adopted a shareholder’s rights plan to ward off any potential hostile takeover.

The open-ended energy income trust in May estimated 2010 adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of C$200 million to C$230 million.

“Based on current market pricing, Provident anticipates 2010 adjusted EBITDA will be in the lower portion of the range,” the trust said in a news release.

The trust, based in Calgary, Alberta, said that while it was adopting a shareholder poison pill, it was not aware of any attempt to take over the company. (Reporting Allan Dowd; Editing by Richard Chang)

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