Brief: Inplay Oil Corp Announces Non–Core Asset Rationalization, Operational Update, Acceleration Of 2018 Cardium Drilling Program And Increased Production Guidance

InPlay Oil

13/09/2018 12:08

Sept 13 (Reuters) - InPlay Oil Corp  IPO.TO :
    * INPLAY OIL CORP. ANNOUNCES NON–CORE ASSET RATIONALIZATION,
OPERATIONAL UPDATE, ACCELERATION OF 2018 CARDIUM DRILLING
PROGRAM AND INCREASED PRODUCTION GUIDANCE
    * INPLAY OIL CORP - TO SELL CERTAIN NON-CORE OIL AND GAS
PROPERTIES IN WEST PEMBINA AREA OF ALBERTA FOR CASH
CONSIDERATION OF $16.7 MILLION
    * INPLAY OIL CORP - DISPOSITION IS EXPECTED TO BE COMPLETED
ON
OCTOBER 1, 2018
    * INPLAY OIL CORP - DISPOSITION INVOLVES LOWER WORKING
INTEREST
ASSETS AND NET PRODUCTION OF APPROXIMATELY 250 BOE/D
    * INPLAY OIL CORP - PLANS TO UTILIZE PROCEEDS FROM
DISPOSITION TO
ACCELERATE ITS 2018 CAPITAL BUDGET
    * INPLAY OIL CORP - 2018 FORECASTED EXPLORATION AND
DEVELOPMENT
CAPITAL EXPENDITURES INCREASES TO $49 MILLION FROM $41 MILLION
    * INPLAY OIL CORP - 2018 EXIT NET DEBT FORECAST DECREASES TO
APPROXIMATELY $45 MILLION COMPARED TO $51.3 MILLION AT YEAR END
2017
    * INPLAY OIL CORP - 2018 ANNUAL PRODUCTION GUIDANCE IS
FORECAST TO
AVERAGE APPROXIMATELY 4,600 BOE/D
    * INPLAY OIL CORP - 2018 EXIT PRODUCTION GUIDANCE INCREASES
TO
5,100 TO 5,200 BOE/D
    * INPLAY OIL CORP - 2018 ADJUSTED FUNDS FLOW FROM OPERATIONS
IS
FORECASTED TO BE APPROXIMATELY $38 MILLION

Source text for Eikon:  ID:nGNX4lG4Fc 
Further company coverage:  IPO.TO 

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