Brief: Perpetual Sees 2018 Capital Budget Of $23 Mln To $27 Mln

Perpetual Energy

07/02/2018 13:00

Feb 7 (Reuters) - Perpetual Energy Inc  PMT.TO : 
    * PERPETUAL ANNOUNCES 2017 EXIT RATE GROWTH OF 54% AND 
PROVIDES 
OPERATIONS UPDATE, REPORTS YEAR-END RESERVES REPLACING 248% OF 
PRODUCTION AND REVISES 2018 CAPITAL PLAN AND OUTLOOK 
    * PERPETUAL ENERGY INC SEES 2018 CAPITAL BUDGET OF $23 
MILLION TO 
$27 MILLION 
    * PERPETUAL ENERGY INC - FORECASTS PRODUCTION TO AVERAGE 
APPROXIMATELY 11,500 BOE/D FOR 2018 
    * PERPETUAL ENERGY INC - Q1 2018 PRODUCTION IS EXPECTED TO 
AVERAGE 
CLOSE TO 13,300 BOE/D, ABOUT 1,100 BOE/D HIGHER THAN PREVIOUSLY 
FORECAST 
    * PERPETUAL ENERGY INC - SEES 2018 CASH COSTS, INCLUDING 
ROYALTIES, OF $13.00 TO $14.00 PER BOE 
    * PERPETUAL ENERGY INC - FORECASTS 2018 ADJUSTED FUNDS FLOW 
OF 
$33 MILLION TO $37 MILLION ($0.56/SHARE TO $0.62/SHARE) 
    * PERPETUAL ENERGY INC - TOTAL PROVED PLUS PROBABLE RESERVES 
WERE 
66.6 MMBOE AT DEC 31, 2017, UP 9 PERCENT FROM YEAR-END 2016 
    * PERPETUAL ENERGY-AT CURRENT FORWARD MARKET FOR NATURAL 
GAS & 
OIL PRICES, 2018 ADJUSTED FUNDS FLOW IS EXPECTED TO EXCEED 
CAPITAL SPENDING,OTHER OBLIGATIONS 
 
Source text for Eikon:  ID:nCNW5Cqgja  
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