Brief: Kiwetinohk Accelerates 2022 Upstream Development Program

Kiwetinohk Energy

18/05/2022 11:11

May 18 (Reuters) - Kiwetinohk Energy Corp  KEC.TO :
    * KIWETINOHK ACCELERATES 2022 UPSTREAM DEVELOPMENT PROGRAM, INCREASES 2022
GUIDANCE AND PROVIDES 2023 OUTLOOK
    * KIWETINOHK ENERGY- TARGETS ABOUT 65 - 75% PRODUCTION GROWTH IN QUARTERLY
VOLUMES
FROM Q1 LEVELS OF 13,253 BOE/D TO Q1 2023 LEVELS OF 22,000 - 23,000 BOE/D
    * KIWETINOHK ENERGY -2022 PROGRAM CHANGES ALLOW CO TO INCREASE 2022 ANNUAL
AVERAGE
PRODUCTION GUIDANCE BY 1,500 BOE/D IN ADDITION TO INCREASE OF 500 BOE/D
    * SAYS 2022 PRODUCTION GUIDANCE IS NOW SET AT AN AVERAGE OF 15,000 - 17,000
BOE/D
    * SAYS 2022 UPSTREAM CAPITAL BUDGET HAS BEEN INCREASED TO A RANGE BETWEEN
$265 TO
$290 MILLION
    * SAYS CAPITAL PROGRAM IS EXPECTED TO BE FULLY FUNDED FROM CASH FLOW FROM
OPERATING ACTIVITIES AND AVAILABLE DEBT CAPACITY

Source text for Eikon:  ID:nCNWR4tJHa 
Further company coverage:  KEC.TO 

 ((Reuters.Briefs@thomsonreuters.com;))