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BRIEF-Tourmaline Oil says achieved target 2015 exit guidance of 190,000-200,000 boepd

Published 2016-01-04, 05:15 p/m
© Reuters. BRIEF-Tourmaline Oil says achieved target 2015 exit guidance of 190,000-200,000 boepd
TOU
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Jan 4 (Reuters) - Tourmaline Oil Corp TOU.TO :
* Says achieved target 2015 exit guidance of 190,000-200,000 boepd
* Says currently has approximately 21,000 boepd of additional production
awaiting tie-in or facility access
* Sees significant reduction in Q4 capital spending from Q3 2015 levels
* Intends to execute base case 2016 ep program, spending $350-375 million of
the full-year $1.1 billion ep program in first half of 2016
* Estimated Q4 production growth in excess of 20% over Q3 2015
* Sees continued reductions in quarterly operating and transportation costs in
Q4
* Says over 50,000 boepd of new production brought on-stream during the fourth
quarter
* Base case ep program reduction will have no impact on the planned 200,000
boepd 2016 average production guidance
* Says currently has approximately $625 million of available capacity on its
bank facility, which is committed to June 2019
* Says is in a fully-funded position from cash flow for 2016 and 2017 capital
programs

* Source text for Eikon ID:nMKWnk5gla

* Further company coverage TOU.TO

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