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BRIEF-Nuvista Energy Q2 FFO C$0.20 per share

Published 2015-08-11, 01:36 a/m
© Reuters. BRIEF-Nuvista Energy Q2 FFO C$0.20 per share
NVA
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Aug 11 (Reuters) - Nuvista Energy Ltd NVA.TO :
* Announces second quarter 2015 financial and operating results and development
area updates for gold creek, elmworth and bilbo
* Q2 FFO per share C$0.20
* Says achieved second quarter 2015 production of 21,448 boe/d in line with
second quarter guidance
* Says Nuvista has elected to maintain 2015 capital budget unchanged in the
range of $270 to $290 million
* Says spending for the second half of 2015 is expected to be approximately 40%
of the annual total.
* Says remain flexible to scale spending up or down further depending on
industry conditions
* Says witnessing a significant reduction in service costs
* Experienced 10-20% reductions on many drilling and completions costs since
resuming operations following spring breakup
* Expect reductions on drilling and completions costs to carry into 2016
* Says anticipate production in the range of 21,250 to 22,000 boe/d for the
third quarter of 2015
* Says for the fourth quarter of 2015, anticipate production in the range of
23,250 to 24,000 boe/d
* Says no change to 2015 annual production guidance range of 22,500 to 24,000
boe/d
* Anticipate that as a result of the downstream issues noted, annual production
will be near the lower end of the guidance range
* Source text for Eikon ID:nMKWfT7PLa

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