April 28 (Reuters) - Meg Energy Corp MEG.TO
* Meg Energy reports strong production and low costs,
providing a solid foundation during the current low price
environment
* Quarterly production of 76,640 barrels per day (bpd)
* Sees reduction in planned annual capital spending from
$328 million to $170 million
* Continues to target average production of 80,000 to 83,000
barrels per day in 2016
* Says maintains annual guidance of 80,000 to 83,000 bpd at
$6.75 to $7.75 per barrel non-energy operating costs
* Company is implementing a strategic hedging program to
increase predictability of future cash flows
* At current strip prices, Meg anticipates its us$2.5
billion revolving credit facility will be undrawn at end of
2016.
Source text for Eikon:
Further company coverage: MEG.TO
(Bengaluru Newsroom)