Brief: Pine Cliff Energy Ltd reports Qtrly Loss per share $0.03

Pine Cliff Energy

07/11/2018 02:25

Nov 6 (Reuters) - Pine Cliff Energy Ltd  PNE.TO :
    * . ANNOUNCES THIRD QUARTER 2018 RESULTS AND UPDATES
GUIDANCE
    * ENTERED INTO AN AMENDED AND RESTATED CREDIT AGREEMENT WITH
ITS
BANKING SYNDICATE FOR $11.0 MILLION REVOLVING CREDIT FACILITY
    * BOARD OF DIRECTORS HAS APPROVED AN INCREASE IN ITS 2018
CAPITAL
BUDGET FROM $10.4 MILLION TO $13.4 MILLION,
    * INCREASE IN CAPITAL BUDGET WILL BE USED TO DRILL AN OIL
WELL IN
Q4 OF 2018.
    * QTRLY ADJUSTED FUNDS FLOW PER BASIC AND DILUTED SHARE
$0.01
    * PINE CLIFF-ADJUSTING ITS 2018 PRODUCTION GUIDANCE FROM
20,000 -
20,500 BOE/D TO 19,500 - 20,000 BOE/D
    * PINE CLIFF-DECREASE IN GUIDANCE DUE TO SHORT TERM
VOLUNTARY
SHUT-INS,RESULT OF LOWER NATURAL GAS PRICES,AND DELAYING CAPEX
TO Q4 OF 2018
    * QTRLY  OIL AND GAS SALES (BEFORE ROYALTY EXPENSE) $25.63
MILLION
VERSUS $25.65 MILLION
    * QTRLY  LOSS PER SHARE $0.03

Source text for Eikon:  ID:nGNX8JNFXS 
Further company coverage:  PNE.TO 

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