Nov 9 (Reuters) - Chinook Energy Inc :
* Chinook Energy Inc. announces third quarter 2016 results and three well birley drilling program
* Says production in Q3 of 2016 averaged 6,464 boe/d, up 31% from same period in 2015
* Says strategic review is ongoing and there can be no guarantee that this review will result in a transaction
* Says during Q3, company executed gas handling agreement impacting majority of our British Columbia natural gas production
* Says company has approved a $5.5 million capital program for remainder of 2016
* Chinook-Determined consolidating subject assets within craft would allow two companies to focus on concentrated grouping of properties and would result in company being well positioned for review of strategic alternatives
* Says board of directors unanimously approved craft transaction
* Says company has approved a Q1 2017 capital program of $9.7 million
* Chinook-After distribution of craft shares to shareholders, to focus on emerging montney assets at Birley/Umbach, British Columbia,at Gold Creek,Pipestone, Alberta
* Says "We have continued to focus on improving our G&A cost structure and implement cost cutting initiatives"
* Chinook Energy-"During year to date, our capital expenditures were incurred on commissioning of our expanded Birley/Umbach compressor capacity"
* Sees Q4 production of 2,983 boe/d
* Sees Q4 exit production of 3,482 boe/d Source text for Eikon: Further company coverage: