BRIEF-Nuvista Energy Ltd expects production for 2017 to average about 28,000 - 31,000 boe/d

Tue Oct 11, 2016 5:11pm EDT
 
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Oct 11 (Reuters) - Nuvista Energy Ltd

* Nuvista Energy Ltd. Provides 5-year plan to 60,000+ boe/d, announces new gas plant agreement, accelerated growth, and $90 million bought deal equity financing

* Increasing 2016 capital guidance to a range of $200 to $215 million

* Nuvista Energy Ltd - capital spending for 2018 is anticipated to increase 10-15% over 2017 levels

* Production is expected to average approximately 28,000 - 31,000 boe/d for 2017

* Nuvista energy -entered agreement as anchor tenant with semcams ulc for firm processing of additional 120 mmcf/d of raw gas

* Nuvista energy ltd - based on preliminary 2017 capital spending plans, q4 of 2017 is targeted to average 32,500 - 35,000 boe/d in production

* Nuvista energy ltd - production levels are forecast to reach 40,000 boe/d in latter half of 2018.

* Nuvista energy ltd - has entered into an agreement with a syndicate of underwriters led by RBC capital markets and peters & co. Limited   Continued...