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BRIEF-Perpetual Sees 2018 Capital Budget Of $23 Mln To $27 Mln

Published 2018-02-07, 08:14 a/m
© Reuters.  BRIEF-Perpetual Sees 2018 Capital Budget Of $23 Mln To $27 Mln
PMT
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Feb 7 (Reuters) - Perpetual Energy Inc PMT.TO :

* PERPETUAL ANNOUNCES 2017 EXIT RATE GROWTH OF 54% AND PROVIDES OPERATIONS UPDATE, REPORTS YEAR-END RESERVES REPLACING 248% OF PRODUCTION AND REVISES 2018 CAPITAL PLAN AND OUTLOOK

* PERPETUAL ENERGY INC SEES 2018 CAPITAL BUDGET OF $23 MILLION TO $27 MILLION

* PERPETUAL ENERGY INC - FORECASTS PRODUCTION TO AVERAGE APPROXIMATELY 11,500 BOE/D FOR 2018

* PERPETUAL ENERGY INC - Q1 2018 PRODUCTION IS EXPECTED TO AVERAGE CLOSE TO 13,300 BOE/D, ABOUT 1,100 BOE/D HIGHER THAN PREVIOUSLY FORECAST

* PERPETUAL ENERGY INC - SEES 2018 CASH COSTS, INCLUDING ROYALTIES, OF $13.00 TO $14.00 PER BOE

* PERPETUAL ENERGY INC - FORECASTS 2018 ADJUSTED FUNDS FLOW OF $33 MILLION TO $37 MILLION ($0.56/SHARE TO $0.62/SHARE)

* PERPETUAL ENERGY INC - TOTAL PROVED PLUS PROBABLE RESERVES WERE 66.6 MMBOE AT DEC 31, 2017, UP 9 PERCENT FROM YEAR-END 2016

* PERPETUAL ENERGY-AT CURRENT FORWARD MARKET FOR NATURAL GAS & OIL PRICES, 2018 ADJUSTED FUNDS FLOW IS EXPECTED TO EXCEED CAPITAL SPENDING,OTHER OBLIGATIONS

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