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Lighstream's Full Year Spend Gutted
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Lightstream Resources Ltd. has announced fourth quarter and year-end 2014 financial and operating results.
2015 Guidance UpdateOur revised guidance reflects a lower commodity price forecast. In the current commodity price and service cost environment, we do not intend to invest in operated, new well drilling programs in the second half of 2015.
This is reflected in a 45% decrease in planned capital expenditures for the year compared to previous 2015 guidance, which has not impacted annual average production but is expected to reduce exit production. We continue to expect to realize excess funds flow relative to our capital program with any and all excess cash being applied to our debt. As previously stated, we are renegotiating debt terms with our credit facility lenders to manage our…
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