April 28, 2016 / 9:08 AM / a year ago

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

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)

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