Connacher provides operational update
Published by Louise Mulhall,
Editorial Assistant
Oilfield Technology,
Connacher Oil and Gas Limited (CLC – TSX; 'Connacher' or the 'company') announces that in light of exceptionally low commodity prices, the Company plans to further reduce production at Great Divide.
Average production for the month of January is expected to be 7000 to 8000 bpd. February and March production is expected to be 3000 to 4000 bpd. Both plants at Great Divide will remain operating the majority of this time and equipment maintenance is ongoing.
Based on field estimates, Connacher's Great Divide production for Q4 2015 averaged approximately 13 900 bpd. Connacher ended the year with a US$47.2 million cash position and plans to actively maximise liquidity through this challenging environment.
Adapted from a press release by Louise MulhallRead the article online at: https://www.oilfieldtechnology.com/drilling-and-production/19012016/connacher-provides-operational-update/
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