Dec 7 (Reuters) - Blackpearl Resources Inc PXX.TO :
* Renews its $150 million credit facilities and provides initial 2016 guidance
* Says current debt of $92 million is expected to be reduced to $70-$75 million
during 2016
* Says average daily oil production is expected to increase over 25% in 2016
compared to 2015
* Says board of directors has approved a capital budget of $15 million for 2016
* Says growth in thermal production will offset expected declines in our
conventional production
* Says expect overall 2016 production to average between 10,000 and 10,500
barrels of oil per day
* Source text for Eikon
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