P/F Atlantic Petroleum Announces Production Results for the Month of October 2014; Provides Production Guidance and Reaffirms Earnings Guidance for the Year 2014
The company lowers its production guidance for the year to 1,520 boepd to 1,600 boepd. This is due to a combination of the second Blackbird well coming on stream later than planned, longer than anticipated annual shut-down on the Aoka Mizu FPSO and an operational issue with one of the Chestnut wells. The plan is to rectify the operational issue on the Chestnut well towards the end of the year.
EBITDAX guidance remains as previously announced (DKK 125 million to DKK 175 million).