Brief: Bonterra Energy Announces Fully-Funded 2020 Budget, 2019 Reserves Information And Operational Highlights

Bonterra Energy

13/02/2020 24:23

Feb 12 (Reuters) - Bonterra Energy Corp  BNE.TO :
    * ANNOUNCES FULLY-FUNDED 2020 BUDGET, 2019 RESERVES
INFORMATION
AND 2019 OPERATIONAL HIGHLIGHTS
    * BOARD OF DIRECTORS HAS APPROVED AN INITIAL 2020 CAPITAL
BUDGET
SET AT APPROXIMATELY $70 MILLION
    * ANNUAL AVERAGE PRODUCTION VOLUMES ARE EXPECTED TO RANGE
BETWEEN
12,300 AND 12,600 BOE PER DAY
    * BONTERRA ENERGY- 2020 CAPITAL PROGRAM FORECASTS ALLOCATION
OF
ABOUT $65 MILLION TO DRILL, COMPLETE AND TIE-IN 34.9 GROSS (29.9
NET) WELLS
    * BONTERRA ENERGY- 2020 CAPITAL PROGRAM FORECASTS ALLOCATION
OF
ABOUT $5 MILLION FOR INFRASTRUCTURE COSTS
    * EXPECTS TO DIRECT FREE FUNDS FLOW TO FURTHER REDUCE
OUTSTANDING
BANK DEBT
    * BONTERRA ENERGY- ANTICIPATES GENERATING $86 MILLION IN
CORPORATE
FUNDS FLOW AND INCURRING APPROXIMATELY $4 MILLION IN DIVIDEND
PAYMENTS FOR YEAR 2020
    * BONTERRA ENERGY- CO MAY ELECT TO ADJUST AMOUNT & TIMING OF
CAPITAL SPENDING TO ENSURE OPTIMAL RETURNS WHILE SEEKING TO
FURTHER REDUCE ITS DEBT LEVELS

Source text for Eikon:  ID:nCNW3jFNTa 
Further company coverage:  BNE.TO 

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