Exploration & Production | Reserves | Production Rates | Capital Markets | Capital Expenditure | Drilling Program
Lightstream Further Adjusts 2015 Capital, Drilling
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Lightstream Resources Ltd. has announced 2014 year-end reserves and updated operations information.
The Company's annual audit of our consolidated financial statements is not yet complete and accordingly all financial and production amounts herein are management's estimates which are unaudited and subject to change.
Highlights January 2015 average production was approximately 36,400 boepd (76% light oil and liquids weighted). We anticipate drilling 14 net wells in the first half of 2015, with capital expenditures expected to be approximately $75 million, $20 million lower than our earlier forecast. 1H 2015 funds flow from operations expected to exceed capital expenditures by up to $20 million (assuming US$50/bbl for WTI oil) with surplus cash being applied to debt. 2014 capital…- ✓ Full news archive — U.S., Canada & international coverage
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