GREY:SGLRF - Post by User
Post by
Azzenmcelbowon Feb 11, 2015 8:06pm
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Post# 23420275
news
news
All values are in Canadian dollars unless otherwise indicated. Conversion of
natural gas volumes to barrels of oil equivalent (boe) are at 6:1.
https://spyglassresources.mediaroom.com/index.php?s=2429&item=122566
All values are in Canadian dollars unless otherwise indicated. Conversion of
natural gas volumes to barrels of oil equivalent (boe) are at 6:1.
news.
As a result of the sustained decline in commodity prices, Spyglass has revised
its 2015 capital budget to $8 million from the previously announced $26
million. This reduced program is based on an average 2015 WTI price of
approximately US$50 per barrel and will focus primarily on maintenance capital
initiatives with the majority of drilling projects deferred until commodity
prices improve.
The Company is revising production guidance to 9,000 boe/d as compared to
10,000 boe/d announced previously, incorporating the reduced capital program
and uneconomic shut-in production. Spyglass is implementing cost reductions
necessary to manage through this challenging commodity price environment,
while focusing on holding debt near current levels.
As a result of the sustained decline in commodity prices, Spyglass has revised
its 2015 capital budget to $8 million from the previously announced $26
million. This reduced program is based on an average 2015 WTI price of
approximately US$50 per barrel and will focus primarily on maintenance capital
initiatives with the majority of drilling projects deferred until commodity
prices improve.
The Company is revising production guidance to 9,000 boe/d as compared to
10,000 boe/d announced previously, incorporating the reduced capital program
and uneconomic shut-in production. Spyglass is implementing cost reductions
necessary to manage through this challenging commodity price environment,
while focusing on holding debt near current levels.