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BRIEF-Arc Resources Ltd. Updates Its 2019 And 2020 Capital Expenditure Plans

Published 2019-06-20, 04:41 p/m
© Reuters.  BRIEF-Arc Resources Ltd. Updates Its 2019 And 2020 Capital Expenditure Plans
ARX
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June 20 (Reuters) - ARC Resources Ltd ARX.TO :

* ARC RESOURCES LTD. UPDATES ITS 2019 AND 2020 CAPITAL EXPENDITURE PLANS

* ARC RESOURCES LTD - BOARD OF DIRECTORS HAS APPROVED A REDUCTION TO COMPANY'S 2019 CAPITAL EXPENDITURE PROGRAM, FROM $775 MILLION TO $700 MILLION

* ARC RESOURCES LTD - 2020 CAPITAL EXPENDITURES ARE EXPECTED TO BE IN RANGE OF $550 MILLION TO $625 MILLION

* ARC RESOURCES LTD - ARC CONTINUES TO ESTIMATE ANNUAL SUSTAINING CAPITAL REQUIREMENTS OF APPROXIMATELY $400 MILLION.

* ARC RESOURCES LTD - ARC'S 2019 PRODUCTION GUIDANCE OF 135,000 TO 142,000 BOE PER DAY REMAINS UNCHANGED DESPITE REDUCTION IN CAPITAL EXPENDITURES

* ARC RESOURCES LTD - DAWSON PHASE IV FACILITY IS ON SCHEDULE WITH ANTICIPATED ON-STREAM DATE REMAINING IN Q2 OF 2020

* ARC RESOURCES LTD - ATTACHIE WEST PHASE I PROJECT WILL BE DEFERRED BY AT LEAST ONE YEAR FROM ORIGINALLY PLANNED ON-STREAM DATE OF MID-YEAR 2021

* ARC RESOURCES LTD - ARC WILL CONTINUE TO PILOT ITS ATTACHIE OPERATIONS THROUGH COMPANY'S EXISTING INFRASTRUCTURE.

* ARC RESOURCES LTD - REDUCTION TO 2019 CAPITAL PROGRAM RELATES TO DEFERRAL OF ATTACHIE WEST PHASE I GAS PROCESSING AND LIQUIDS-HANDLING FACILITY

* ARC RESOURCES LTD - TO MAINTAIN CURRENT MONTHLY DIVIDEND OF $0.05 PER SHARE

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