BRIEF-Meg Energy maintains annual guidance of 80,000 to 83,000 bpd

Thu Apr 28, 2016 5:06am EDT
 
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April 28 (Reuters) - Meg Energy Corp

* Meg Energy reports strong production and low costs, providing a solid foundation during the current low price environment

* Quarterly production of 76,640 barrels per day (bpd)

* Sees reduction in planned annual capital spending from $328 million to $170 million

* Continues to target average production of 80,000 to 83,000 barrels per day in 2016

* Says maintains annual guidance of 80,000 to 83,000 bpd at $6.75 to $7.75 per barrel non-energy operating costs

* Company is implementing a strategic hedging program to increase predictability of future cash flows

* At current strip prices, Meg anticipates its us$2.5 billion revolving credit facility will be undrawn at end of 2016.

Source text for Eikon:

Further company coverage: (Bengaluru Newsroom)