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Manitok to Begin Drilling in 2H16; Talks Full Year 2015 Results
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Manitok Energy Inc. announces its financial and operating results for the year ended December 31, 2015 and provides an operational update.
Key Points: Manitok anticipates it will begin its 2016 Cardium drilling program in the second half of the year, with a minimum of approximately $11 million of drilling and completion spending. 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. 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…- ✓ Full news archive — U.S., Canada & international coverage
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