March 8, 2017 / 12:57 PM / 8 months ago

BRIEF-Seven Generations boosts 2016 production by 95 pct

March 8 (Reuters) - Seven Generations Energy Ltd:

* Seven Generations boosts 2016 production 95 percent to 117,800 boe/d, generates record funds from operations of $733 million

* Seven Generations Energy Ltd - Q4 production increased 70 percent compared to a year earlier to average 132,300 boe/d

* Qtrly total proved reserves were 825 mmboe

* Seven Generations Energy Ltd- for 2017, capital investment is forecast to be $1.5 billion to $1.6 billion, unchanged from original guidance

* Seven Generations Energy- plan to fund this year’s capital investment of $1.5 billion to $1.6 billion with cash on hand, cash flow, draws on credit facility

* Qtrly loss per share $0.30

* Qtrly ffo per share $0.60

* Seven Generations Energy Ltd - currently operating 12 rigs, 7g’s 2017 rig count is expected to average 9 to 10, and it plans to drill 100 to 110 wells

* Seven Generations Energy Ltd - “during q1, we expect production to average about 150,000 boe/d. Q2 will see similar vigorous levels of field activity” Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below