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Further to its press release dated February 10, 2014, Donnycreek Energy Inc. has reported an updated production guidance for the 2014 calendar year.
Calendar 2014 Guidance
As announced yesterday, in calendar 2014, Donnycreek anticipates participating in 8 wells at Kakwa (average 50% working interest) and 2 wells at Wapiti (75% working interest). Total net capital expenditures are estimated to be $52.2 million; of which $49.1 million is for drilling and completions and $3.1 million is for equip and tie-in. The calendar 2014 program will be funded through cash on hand, cash flow and possibly debt. Donnycreek's current net production is approximately 1,400 boe/day (49% condensate; 51% natural gas).
Donnycreek is updating its estimated production for calendar 2014 to average 1,700 boe/d with an anticipated exit rate remaining at approximately 2,500 boe/d (49% condensate; 51% natural gas). Donnycreek is also updating its forecasts cash flow from operations to approximately $32.5 million in calendar 2014.
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