Brief: Prairie Identified Additional $2.8 Mln Of Target Reduction Over Balance Of 2020

Prairie Provident Resources

14/05/2020 22:48

May 14 (Reuters) - Prairie Provident Resources Inc  PPR.TO :
    * PRAIRIE PROVIDENT RESOURCES ANNOUNCES FIRST QUARTER 2020 
FINANCIAL AND OPERATING RESULTS
    * PRAIRIE PROVIDENT RESOURCES INC - EXPECTS TO ACHIEVE
ADJUSTED
FUNDS FLOW SAVINGS OF APPROXIMATELY $8.0 MILLION - $11.0 MILLION
FOR
    * PRAIRIE PROVIDENT RESOURCES INC QTRLY PRODUCTION AVERAGED
5,281
BOE/D
    * PRAIRIE PROVIDENT RESOURCES INC QTRLY NET LOSS TOTALED
$68.1
MILLION, DRIVEN PRIMARILY BY A NON-CASH IMPAIRMENT CHARGE OF
$77.3 MILLION
    * PRAIRIE PROVIDENT RESOURCES INC QTRLY IDENTIFIED IMMEDIATE
REDUCTION OPPORTUNITIES TOTALING $2.2 MILLION
    * PRAIRIE PROVIDENT RESOURCES INC - IDENTIFIED ADDITIONAL
$2.8
MILLION OF TARGET REDUCTION OVER BALANCE OF 2020
    * PRAIRIE PROVIDENT - COST REDUCTIONS EXPECTED THROUGH RATE
NEGOTIATIONS, WORKFORCE OPTIMIZATIONS, SHUTTING-IN OF UNECONOMIC
PRODUCTION, DEFERRAL
    * PRAIRIE PROVIDENT RESOURCES INC - COMMITTED TO MAINTAINING
OUR
BALANCE SHEET AND LIQUIDITY

Source text for Eikon:  ID:nGNX4lJj2j 
Further company coverage:  PPR.TO 

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