BRIEF-Northern Blizzard says drilling program to produce over 20,000 boe/d in Q4

Wed Jun 8, 2016 6:23pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

June 8 (Reuters) - Northern Blizzard Resources Inc

* Northern Blizzard Resources Inc announces third quarter drilling program and amended credit facility

* Increased its 2016 capital program to $55 million from $40 million

* Semi-Annual borrowing base review of Northern Blizzard's credit facility has been completed.

* Drilling program is expected to result in Q4 production of over 20,000 boe/d, a modest increase to annual 2016 production

* Credit facility, which is undrawn, was set at $300 million

* Revolving period under credit facility was extended to July 14, 2017 and maturity date to July 14 , 2018

* Expects to drill wells in q3 of 2016 with drilling program focused on Cactus Lake, Winter and Coleville areas Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)