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BRIEF-Seven Generations’ Board Approves $1.25 Bln Capital Budget In 2019

Published 2019-01-10, 07:12 a/m
Updated 2019-01-10, 07:20 a/m
© Reuters.  BRIEF-Seven Generations’ Board Approves $1.25 Bln Capital Budget In 2019

Jan 10 (Reuters) - Seven Generations Energy Ltd VII.TO :

* SEVEN GENERATIONS' BOARD APPROVES $1.25 BILLION CAPITAL BUDGET IN 2019

* SEVEN GENERATIONS ENERGY- 2019 PRODUCTION FORECAST OF ABOUT 200,000 TO 205,000 BOE/D OF TOTAL PRODUCTION, INCLUDING 75,000 BOE/D OF CONDENSATE

* SEVEN GENERATIONS ENERGY - EXPECTS 2018 PRODUCTION TO AVERAGE ABOUT 202,000 BOE/D AND CAPITAL INVESTMENTS TO BE IN LINE WITH CO'S 2018 GUIDANCE

* SEVEN GENERATIONS-RECEIVED NOTABLE INTEREST FROM BROAD RANGE OF POTENTIAL STRATEGIC & FINANCIAL PARTNERS REGARDING PLANT LOCATED IN GOLD CREEK REGION

* SEVEN GENERATIONS ENERGY - DESPITE LOWER CAPITAL INVESTMENTS EXPECT TO MAINTAIN 2019 PRODUCTION AT 2018 LEVELS

* SEVEN GENERATIONS ENERGY LTD - 2018 INVESTMENT PROFILE WILL RESULT IN REDUCED PRODUCTION VOLUMES DURING H1 2019

* SEVEN GENERATIONS ENERGY LTD - 2019 PRODUCTION ADDITIONS IN H2 PLANNED TO COINCIDE WITH ADDITIONAL OIL EGRESS SOLUTIONS OUT OF WESTERN CANADA

* SEVEN GENERATIONS - 2019 PRODUCTION PROFILE TO MODERATE CORPORATE DECLINE RATES RESULTING IN REDUCED MAINTENANCE CAPITAL REQUIREMENT IN 2020 & BEYOND

* SEVEN GENERATIONS ENERGY LTD - EXPECTS TO TEST FIVE TO SEVEN NEW WELLS IN LOWER MONTNEY BENCH IN 2019 ACROSS NEST 2 AND 3 AREAS

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