The Company’s bank line has been reduced from $500 mm to $350 mm, with a scheduled step-down to $300 mm by the end of October 2016. Corporate declines, Musreau outages in 3Q16e and minimal drilling activity in 1Q16 have necessitated a reduction to our 2016e production/cash flow forecast. Paramount is currently one of the most active operators in the WCSB with 6 rigs running today. With an expanded capital program in 2016e and early 2017e, we anticipate a wave of volume adds to arrive at year-end ....
15 Jun 2016
Bank Line Reduced, 2016e Outlook Trimmed, 2017e Estimates Increased on Higher Activity Levels
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Bank Line Reduced, 2016e Outlook Trimmed, 2017e Estimates Increased on Higher Activity Levels
Paramount Resources Ltd. Class A (POU:TSE) | 0 0 -0.2% | Mkt Cap: 2,314m
- Published:
15 Jun 2016 -
Author:
Cody R. Kwong -
Pages:
7
The Company’s bank line has been reduced from $500 mm to $350 mm, with a scheduled step-down to $300 mm by the end of October 2016. Corporate declines, Musreau outages in 3Q16e and minimal drilling activity in 1Q16 have necessitated a reduction to our 2016e production/cash flow forecast. Paramount is currently one of the most active operators in the WCSB with 6 rigs running today. With an expanded capital program in 2016e and early 2017e, we anticipate a wave of volume adds to arrive at year-end ....