Brief: Pine Cliff Energy expects 2016 production of 22,500-23,000 boepd

Pine Cliff Energy

11/12/2015 20:53

Dec 11 (Reuters) - Pine Cliff Energy Ltd  PNE.V : 
 * Announces closing of $185 million strategic acquisition, credit facility 
   increase, tsx listing application and 2016 guidance 
 * Forecasting 2016 production volumes to range from 22,500 - 23,000 boe per day 
 * 2016 cash flow is currently expected to be materially higher than its capital 
   budget, based on current strip pricing 
 * Says credit facility has been amended to reflect an increase in the borrowing 
   base to $185 million 
 * Production of the assets is currently approximately 11,300 barrels of oil 
   equivalent ("boe") per day 
 
 * Source text for Eikon  ID:nCCN3bX6Jz  
 
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