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Lightstream Resources Suspends Drilling & Completion Activity
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Lightstream Resources Ltd. announces second quarter 2016 financial and operating results.
Key Points: As a result of the Company's failure to make the June 15 semi-annual interest payment on our Secured Notes by July 15, 2016, the Company triggered defaults under the Credit Facility We have not released 2H 2016 guidance due to our pending Recapitalization plan. The company drilled one Cardium well in Q2 Second Quarter 2016 Highlights: Second quarter average production was 25,116 boepd (65% light oil and liquids weighted), a 5% decrease from the previous quarter. The decline is mainly attributable to our reduction in development capital spending, resulting in natural declines exceeding new production additions, and a continued third party pipeline outage in the Swan Hills area. Our…- ✓ Full news archive — U.S., Canada & international coverage
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