Debt | IP Rates-30-Day | Production Rates | Initial Production Rates | Hedging | Capital Markets | Capital Expenditure - 2017
Yangarra Bumps Up Spending, Drilling 15 Long Lateral Cardium Wells
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Yangarra Resources Ltd. provided an operations update.
2017 Guidance Board of Directors has approved an initial capital budget of $50 million for 2017. Drilling of 15 ERW's in the Cardium, five (5) wells in the first quarter and ten (10) wells in the second half. The budget is expected to increase the Company's annual 2017 production to 4,500 – 5,000 boe/d cash flow from operations estimated at $45 to $50 million. The Company expects year-end 2017 net debt of $65 – $70 million 2016Production
Production for 2016 averaged approximately 2,930 boe/d (23% growth from 2015) with fourth quarter production of 3,100 boe/d (53% liquids).
Current production is approximately 4,000 boe/d.
The Company's base corporate decline rate for 2016 was approximately 20% (excluding wells drilled in 2016).
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