Exploration & Production | Forecast - Production | Capital Markets | Capital Expenditure
Lonestar Edits 2015 Strategy, Spending Due to Oil Prices
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Lonestar Resources Limited announces that in light of recent oil price declines it has revisited its budget for 2015, as well as initiating cost-saving opportunities.
Chief Executive Officer, Frank D. Bracken, III added, "Our capital budget will always be driven by maximizing returns for shareholders, which in an era of lower oil prices means we will slow down the pace of drilling on our existing properties to preserve liquidity to position Lonestar to be opportunistic in acquiring additional properties in the Eagle Ford shale trend. Nevertheless, shareholders can still expect to benefit from growing cash flows and reserves, while we maintain well-hedged forward revenues and a strong balance sheet."
Revised Drilling Plan Focused on Highest Rate of Return WellsLonestar's robust financial…
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