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Tourmaline Plans 2016 Spending, Touts Lowest Montney Well Costs
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Tourmaline Oil Corp. has provided updated production, cash flow(1) and exploration and production capital spending guidance for 2016 and 2017.
2016/2017 Production and Capital GuidanceThe Company's guidance for production growth, EP capital spending and cash flow for 2016/2017 is based on two commodity price scenarios:
If natural gas prices are in the $3.00-3.50/mcf (AECO) range in 2016, Tourmaline expects production to average 200,000 boepd with annual EP capital spending of $1.1 billion. Annual cash flow of $1,145 million is forecast in this Base Case scenario yielding essentially a cash flow budget. If natural gas prices are in excess of $3.50/mcf (AECO) in 2016, an EP capital program of $1.35 billion is planned with resulting average production of 220,000 boepd. Annual cash flow in…- ✓ Full news archive — U.S., Canada & international coverage
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