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BRIEF-Nuvista Energy Ltd Announces Operational Update And Revised Capital Spending Plan

Published 2019-02-07, 07:37 a/m
© Reuters.  BRIEF-Nuvista Energy Ltd Announces Operational Update And Revised Capital Spending Plan
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Feb 7 (Reuters) - Nuvista Energy Ltd NVA.TO :

* NUVISTA ENERGY LTD. ANNOUNCES OPERATIONAL UPDATE AND REVISED CAPITAL SPENDING PLAN

* NUVISTA ENERGY LTD - FIELD ESTIMATED PRODUCTION FOR Q4 OF 2018 WAS APPROXIMATELY 49,000 BOE/D

* NUVISTA ENERGY LTD - 2018 FULL YEAR PRODUCTION ESTIMATE IS APPROXIMATELY 40,300 BOE/D

* NUVISTA ENERGY LTD - CAPITAL SPENDING PROGRAM FOR Q4 WAS CONCLUDED AS PLANNED AND OUR FULL YEAR 2018 CAPITAL SPENDING ESTIMATE IS ABOUT $340 MILLION

* NUVISTA ENERGY LTD - 2018 PRELIMINARY UNAUDITED ADJUSTED FUNDS FLOW ESTIMATE IS STILL EXPECTED TO EXCEED BOTTOM OF OUR GUIDED RANGE OF $260 - $270 MILLION

* NUVISTA ENERGY LTD - AS AT DECEMBER 31, 2018 NUVISTA HAD BORROWING FACILITY DEBT OF APPROXIMATELY $257 MILLION

* NUVISTA ENERGY LTD - FORECASTS ANNUAL 2019 PRODUCTION PER SHARE GROWTH OF APPROXIMATELY 13%

* NUVISTA ENERGY LTD - FORECASTS Q4 2019 PRODUCTION PER SHARE GROWTH OF ALMOST 25% AS COMPARED TO Q4 OF 2018

* NUVISTA ENERGY LTD - RESET 2019 PLANS WITH INTENTION OF KEEPING NET DEBT LEVELS RELATIVELY FLAT

* NUVISTA ENERGY LTD - REDUCED CAPITAL SPENDING FOR 2019 TO A PLANNED RANGE OF $300 - $325 MILLION

* NUVISTA ENERGY LTD - PRODUCTION GUIDANCE FOR 2019 IS BETWEEN 51,000 AND 54,000 BOE/D.

* NUVISTA ENERGY LTD - Q1 2019 PRODUCTION IS ANTICIPATED IN RANGE OF 43,000 TO 46,000 BOE/D

* NUVISTA ENERGY LTD - PRODUCTION IN REMAINING QUARTERS OF 2019 ARE ALL EXPECTED TO BE WELL ABOVE 50,000 BOE/D

* NUVISTA ENERGY LTD - INITIATED DISCUSSIONS WITH VARIOUS PARTIES TO EXPLORE FUNDING ALTERNATIVES FOR $90 MILLION COST OF PIPESTONE COMPRESSOR STATION

* NUVISTA ENERGY - DISCUSSIONS ARE WELL ADVANCED AND CO ANTICIPATES PROCEEDING IN THIS DIRECTION, ALTHOUGH NUVISTA WILL STILL BUILD AND OPERATE FACILITY

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