Exploration & Production | Production Rates | Capital Markets | Capital Expenditure
Lightstream Resources Announces 2015 Capex
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Lightstream Resources Ltd. has announced year-end 2014 production results with exit rates exceeding guidance.
In light of further declines in world oil prices and to preserve financial flexibility, we are immediately suspending our monthly dividend.
As previously outlined in our December 2014 press release, our strategy for 2015 is to adopt a conservative capital and dividend program with the objective of ensuring that our expenditures will be funded through cash flow, without an increase in debt levels. Since that time, WTI oil prices have continued to decline through the beginning of 2015 to levels around US$50/bbl. As a result, we are suspending the dividend effective January 2015.
Capital program spending in the first half 2015 will be approximately $95…
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