January 10, 2018 / 10:53 PM / 9 months ago

BRIEF-Tourmaline Oil Corp Says ‍Achieved 2017 Exit Target Of 270,000-280,000 Boepd​

Jan 10 (Reuters) - Tourmaline Oil Corp:

* TOURMALINE PROVIDES MARKET UPDATE

* TOURMALINE OIL CORP - ‍ACHIEVED 2017 EXIT TARGET OF 270,000-280,000 BOEPD, AVERAGING APPROXIMATELY 274,000 BOEPD IN DECEMBER​

* TOURMALINE OIL CORP - ‍ACHIEVED YEAR-OVER-YEAR PRODUCTION GROWTH OF 30% IN 2017, ALSO ON TARGET​

* TOURMALINE OIL CORP - LIQUIDS PRODUCTION IS ANTICIPATED TO GROW TO 70,000 BPD-75,000 BPD BY Q4 2019

* TOURMALINE OIL CORP - TOTAL Q4 2017 LIQUIDS PRODUCTION GREW BY APPROXIMATELY 60% OVER Q4 2016​

* TOURMALINE OIL CORP - INCREASED ITS OIL HEDGES FOR 2018 TO 8,663 BPD AT AN AVERAGE FIXED PRICE OF $53.87 US/BBL

* TOURMALINE OIL CORP - COMPANY HAS ELECTED TO LEAVE FIVE YEAR PLAN GUIDANCE UNCHANGED AT THIS TIME

* TOURMALINE OIL CORP - ‍CURRENT PRODUCTION IS RANGING BETWEEN 270,000 AND 275,000 BOEPD​

* TOURMALINE OIL - ‍Q4 2017 AVERAGE PRODUCTION WAS APPROXIMATELY 263,000 BOEPD​

* TOURMALINE OIL CORP - ‍CURRENT TOTAL LIQUIDS PRODUCTION IS APPROXIMATELY 48,000 BPD​

* TOURMALINE OIL CORP - EXPECTS TO GENERATE APPROXIMATELY $1.6 BILLION IN FREE CASH FLOW BASED ON CURRENT FIVE-YEAR PLAN

* TOURMALINE OIL - CURRENTLY SEES FY 2018 PRODUCTION GROWTH OF ABOUT 10% FROM A CAPITAL PROGRAM EXPECTED TO GENERATE “SIGNIFICANT” FREE CASH FLOW

* TOURMALINE OIL - ‍ESTIMATES 2018 AVERAGE PRODUCTION OF 270,000-280,000 BOEPD​ Source text for Eikon: Further company coverage:

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