Debt | Production Rates | Hedging | Capital Markets | Capital Expenditure | Drilling Program
Manitok Reduces Debt, Plans $11MM in D&C Expense
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Manitok Energy Inc. has announced its financial and operating results for the year ended December 31, 2015 and provides an operational update.
Year-End Results: Production in 2015 averaged 4,480 boe/d (49% light oil and liquids) as compared to 4,502 boe/d (57% light oil and liquids) in 2014. Recorded funds from operations of $30.4 million in 2015, a 34% decrease over funds from operations of $46.0 million in 2014. Operating netback including the realized gain or loss on financial instruments was $25.67/boe in 2015, a 22% decrease over the operating netback of $32.91/boe in 2014. Capital expenditures before acquisition and divestitures were $16.1 million as compared to $97.4 million in 2014. Capital expenditures after acquisition and divestitures were $40.6 million as compared to $69.7…- ✓ Full news archive — U.S., Canada & international coverage
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