💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

BRIEF-Tamarack Valley Energy sees 2016 capital expenditure budget of $45-$53 mln

Published 2016-07-25, 06:32 a/m
© Reuters.  BRIEF-Tamarack Valley Energy sees 2016 capital expenditure budget of $45-$53 mln
TVE
-

July 25 (Reuters) - Tamarack Valley Energy Ltd TVE.TO

* Announces closing of strategic acquisitions, new credit facility and second quarter production

* Sees 2016 capital expenditure budget of between $45-$53 million

* Total aggregate cash consideration for Redwater acquisition was $25.8 million

* 2016 guidance confirmed

* Says co's new bank line was put into place with a total credit capacity of $120 million

* First half 2016 production of approximately 9,560 boe/d at upper end of guidance range of 9,100 to 9,600 boe/d

* Cardium oil wells are expected to positively impact production volumes in last half of 2016

* Previous borrowing base of $165 million has been reduced to $120 million

* Average daily production through Q2 2016 was approximately 9,536 boe/d

* Bank line is comprised of a revolving credit facility in amount of $110 million and a $10 million operating facility

* New bank facility lasts for a 364 day period and will be subject to its next 364 day extension by May 26, 2017 Source text for Eikon: ID:nCCN7nqRk8 Further company coverage: TVE.TO

(Bengaluru Newsroom: +1-646-223-8780)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.