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Northern Blizzard's Production Drops 8% in 1Q; 19,388 BOE/d
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Northern Blizzard Resources Inc. reported its operating and financial results for the three months ended March 31, 2016.
Key Points: Capital expenditures for the first quarter of 2016 totalled $6.9 million . Development during the quarter was focused primarily in the Cactus Lake, Coleville and Winter areas. First quarter 2016 production was 19,388 boe/d (98% oil), an 8% decrease compared to the same period in 2015. Financial PositionNorthern Blizzard has good liquidity, a well-structured balance sheet, supportive shareholders and high quality, low decline assets that position the Company for long-term sustainability.
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Significant financial flexibility with only $5.9 million drawn on our $475 million credit facility. Bonds that mature in…- ✓ Full news archive — U.S., Canada & international coverage
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