Impact: Neutral to slightly negative. Ikkuma's 2Q16 financial results were consistent with expectations on a cash flow and capital spending basis, while the Company's lowered credit capacity of $40 mm ($65 mm prior) remains sufficient to execute on its modestly increased capital budget for between $15-$17 mm (up from $10-$15 mm prior) in 2016e. Operationally, Ikkuma's drilling and completion plans for its emerging light oil play have been delayed slightly due field conditions; however, these
25 Aug 2016
ANNOUNCES 2Q16 FINANCIAL AND OPERATING RESULTS IN LINE WITH EXPECTATIONS, LOWERED CREDIT FACILITY
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ANNOUNCES 2Q16 FINANCIAL AND OPERATING RESULTS IN LINE WITH EXPECTATIONS, LOWERED CREDIT FACILITY
Impact: Neutral to slightly negative. Ikkuma's 2Q16 financial results were consistent with expectations on a cash flow and capital spending basis, while the Company's lowered credit capacity of $40 mm ($65 mm prior) remains sufficient to execute on its modestly increased capital budget for between $15-$17 mm (up from $10-$15 mm prior) in 2016e. Operationally, Ikkuma's drilling and completion plans for its emerging light oil play have been delayed slightly due field conditions; however, these