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Tourmaline Further Cuts 2016 Capex; Achieves 4Q Guidance
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Tourmaline Oil Corp. has updated its fourth quarter 2015 operating and financial performance. The Company has further reduced the 1H 2016 capital spending program.
PRODUCTION UPDATE
The Company achieved target 2015 exit guidance of 190,000-200,000 boepd (1.005 bcf/day, 27,700 bpd oil, condensate and NGLs) during the last week of November, well ahead of schedule. A significant further production increase was realized when the new Edson 4-17 gas plant began producing to the new TCPL Minnow Lake meter station during the second week of December allowing the 200,000 boepd production threshold to be achieved. Several additional new well tie-ins are anticipated throughout the EP portfolio during the first quarter of 2016. Tourmaline currently has approximately 21,000 boepd of additional…- ✓ Full news archive — U.S., Canada & international coverage
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