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Birchcliff Hits Record Production in 4Q; 38,950 BOEPD
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Birchcliff Energy Ltd. reported its unaudited 2015 year-end and fourth quarter financial and operational results, with record annual average production of 38,950 boe per day and record low operating costs of $4.54 per boe in 2015, as well as highlights from its independent reserves evaluation effective December 31, 2015. Birchcliff is also pleased to provide an operational update.
Birchcliff estimates that its production for January 2016 averaged approximately 42,000 boe per day.
Jeff Tonken, President and Chief Executive Officer of Birchcliff, stated: "Our proved plus probable reserves increased 23% to 572.9 MMboe as at December 31, 2015. The future net revenue from these reserves (discounted at 10%) increased slightly to approximately $3.9 billion from $3.8 billion in 2014…
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