Dec 14 (Reuters) - Torc Oil & Gas Ltd TOG.TO
* Says board of directors has approved a 2017 capital budget of $130 million
* Torc - beginning with Jan 2017 dividend which is paid,to be paid in Feb 2017, co to eliminate discount associated with co's share dividend plan
* Torc Oil & Gas - remains positioned to achieve previously announced 2016 exit guidance of 19,600 boepd while maintaining a corporate decline profile of approximately 23 percent
* Torc Oil & Gas Ltd announces 2017 capital budget and production guidance; confirms december dividend Source text for Eikon: ID:nCNWw522wa Further company coverage: TOG.TO