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Long Run Focused on Reducing Operating Costs
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Long Run Exploration Ltd. has announced reserves, financial and operating results for the year ended December 31, 2014.
2015 Financial Update In response to the depressed commodity price environment, Long Run has adopted a fiscally prudent and conservative current year plan. Strengthening our balance sheet is our top priority at this time. We are focused on disciplined capital management, portfolio rationalization and cost saving measures. For 2015, we are targeting debt reduction of $100 million through reduced capital spending, the suspension of our monthly dividend and selective asset dispositions. This will help to improve our financial flexibility in the near term. strong>In conjunction with the Company's reduced capital budget, we are targeting a 10 - 15% reduction in our general…- ✓ Full news archive — U.S., Canada & international coverage
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