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Arc Resources Slims Down 2016 Budget; Talks 4Q Results
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ARC Resources Ltd. reported its fourth quarter 2015 operating and financial results. Fourth quarter production averaged 119,243 boe per day and funds from operations were $200.7 million ($0.58 per share).
Key Points: The 2016 capital budget will be reduced from $550 million to $390 million Increased focus on Montney assets ARC achieved fourth quarter 2015 production of 119,243 boe per day, which was within the fourth quarter guidance range of 118,000 to 122,000 boe per day.ARC operates a highly efficient business model. As a conventional oil and gas producer, we continue to generate significant cash flow through a deliberate strategy of operating high working interest properties, controlling our company-owned infrastructure and judiciously managing our cost structure. ARC had…
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