Exploration & Production | Quarterly / Earnings Reports | Third Quarter (3Q) Update | Production Rates | Capital Markets | Capital Expenditure
Lightstream Resources Production Down After Dispositions
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Lightstream Resources Ltd. has announced our third quarter financial and operating results and provide an update on our Swan Hills program.
3Q Financial & Operating Highlights In the third quarter, we exceeded our asset divestiture goals with the sale of the remainder of our southeast Saskatchewan conventional business unit for gross proceeds of $476 million, resulting in total 2014 proceeds from non-core dispositions of $729 million. Year-to-date, we have reduced our debt by $716 million through divestiture proceeds and excess cash flow, a 31% decrease from year-end 2013 levels. Including the impact of our non-core asset sales this year, third quarter production averaged 38,837 barrels of oil equivalent per day (boepd) (78% light oil and liquids), a 9% decrease from the second quarter…- ✓ Full news archive — U.S., Canada & international coverage
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