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Tourmaline Plans 12 Rig Program for 2018; Reports Q3 Production of 236 MBOEPD, a YOY Increase of 40%
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[Summary: Tourmaline reported its Q3 reults. Highlights include:
Average daily production in Q3 was 236,905 boe/d, a 40% increase from Q3 2016 when production was 169,347. Crude oil and NGL production was 38,995 bbl/d, an increase of 94% from Q3 2016. Natural gas production was 1,187,462 mmcf/d, an increase of 33% from Q3 2016. Q3 E&P capital expenditures were $432.4 million Expects to drill 300 wells by the end of 2017 2018 PlansIn 2018, the company expects production to range between 270,000 - 280,000 boe/d with a corresponding capital reduction of 29%. Additionally, the company plans to run 12 rigs in 2018, which is a 33.3% decrease from it 2017 high of 18.] Tourmaline continues profitable growth in Q3 2017 and introduces growth/dividend five-year plan
November 8, 20173:00 PM
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