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BRIEF-Tourmaline Oil Reports Q3 2018 Avg Production Was 254,185 boepd, Up 7%

Published 2018-11-07, 05:29 p/m
© Reuters. BRIEF-Tourmaline Oil Reports Q3 2018 Avg Production Was 254,185 boepd, Up 7%
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Nov 7 (Reuters) - Tourmaline Oil Corp TOU.TO :

* TOURMALINE DELIVERS STRONG Q3 EARNINGS AND CASH FLOW GROWTH, INCREASES 2018 EXIT AND 2019 PRODUCTION ESTIMATES AND REDUCES 2019 CAPITAL PROGRAM

* 2018 EXIT PRODUCTION ESTIMATE INCREASED FROM 290,000 TO 300,000 BOEPD

* Q3 2018 AVERAGE PRODUCTION WAS 254,185 BOEPD, UP 7%

* 2019 AVERAGE PRODUCTION FORECAST INCREASED FROM 291,000 TO 300,000 BOEPD ON A REDUCED EP CAPITAL PROGRAM OF $1.30 BILLION

* STRONG Q4 2018 PRODUCTION GROWTH AND STRONGER NATURAL GAS PRICES ARE EXPECTED TO YIELD Q4 2018 CASH FLOW OF $380-410 MILLION

* NOW EXPECTS TO GENERATE FULL-YEAR 2018 CASH FLOW OF $1.32 BILLION WITH TOTAL CAPITAL SPENDING OF $1.15 BILLION

* QTRLY EARNINGS PER SHARE $0.20

* ALL AMOUNTS ARE STATED IN CANADIAN DOLLARS

* Q3 EARNINGS PER SHARE VIEW C$0.26 -- THOMSON REUTERS I/B/E/S

* QTRLY REVENUE $496.7 MILLION VERSUS $410.6 MILLION

* Q3 REVENUE VIEW C$466.6 MILLION -- THOMSON REUTERS I/B/E/S

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