15 Dec 2015
ANNOUNCES 2016 CAPITAL PROGRAM AND PRODUCTION GUIDANCE
Market Impact: Negative. Bankers' 2016 capital program of US$65 mm is less than our anticipated US$90 mm, which results in a lower 2016e production forecast to 16,650 bbl/d and cash flow estimate of US$87 mm (US$0.33 per share). While our production and financial results have decreased, we believe that Bankers has undertaken the prudent move to limit capital activity to protect the balance sheet in the low crude oil price environment.