2018 4th Qrtr and Year End Results and 2019 Capital Plan 2018 FOURTH QUARTER FINANCIAL AND OPERATING HIGHLIGHTS
Maintained quarter-over-quarter production at 68,011 boe per day, despite approximately 1,600 boe per day of unscheduled production curtailments, largely due to third party processing interruptions and volatile AECO natural gas prices caused by maintenance on the Nova Gas Transmission ("NGTL") system;
Acquired approximately 13,500 prospective net acres and 500 boe per day of liquids rich production offsetting our operations in the Hoadley Glauconite trend near Willesden Green;
Drilled five gross (4.3 net) wells in the fourth quarter;
Increased NGL production to 19,131 per day, a seven percent increase over the prior quarter and the highest quarterly volume in 2018;
Reduced cash costs(1) to $9.27 per boe, a two percent improvement over prior quarter and the lowest quarterly cost in 2018;
Directed 30% of our exploration and development expenditures to support capital, primarily related to crown land acquisitions and infrastructure improvements, that will add value beyond 2018; and
Hedged an incremental 95 mmcf per day for 2019 and contracted an incremental 20 mmcf per day to sales markets beyond AECO effective April 1, 2019.