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Marquee Energy Cuts Drilling Program to Four Wells
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Marquee Energy Ltd. has released its financial and operational results for the three and six months ended June 30, 2015 and provide an operations update.
Highlights Maintained Q2-2015 production of 5,118 boe/d (49% oil and NGLs) representing a 2% increase compared to Q2-2014. For the six months ended June 30, 2015 production increased to 5,326 boe/d, an 18% increase over the comparable period in 2014. Improved balance sheet strength with second quarter exit net debt of $48.8 million, representing 1.9 times debt to annualized funds flow from operations. Q2-2015 exit net debt is down 23% from year end 2014 net debt of $63.1 million. Decreased Q2-2015 operating and transportation costs to $15.94/boe, a 14% improvement from the comparable period in 2014. Savings resulted from service cost…- ✓ Full news archive — U.S., Canada & international coverage
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