Deals - Acquisition, Mergers, Divestitures | Forecast - Production | Capital Markets | Capital Expenditure - 2018
TORC's Credit Line Increased +25% Post-Acquisition; Ups 2018 Production Guidance
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After closing its latest acquisition, TORC Oil & Gas has reported an increase to its bank line as well as confirmed its 2018 budget and raised its guidance.
Credit Line Increased by +25%TORC is pleased to announce that in conjunction with the Acquisition, its available credit facility has increased to $500 million from $400 million previously.
Budget ConfirmationTORC confirmed the previously announced 2018 budget of $180 million. The 2018 capital program will remain concentrated on the Company’s primary core areas in southeast Saskatchewan, focused on both conventional and unconventional opportunities, and the Cardium play in central Alberta. TORC continues to focus on operational efficiencies with a goal of achieving results that exceed budget expectations.
TORC is pleased to confirm…
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