Prairie Provident Resources Inc. Provides Earnings and Production Guidance for the Year 2018
January 29, 2018 at 07:41 am
Prairie Provident Resources Inc. provided earnings and production guidance for the year 2018. The company expects capital expenditures (excluding abandonment and reclamation expenditures and capitalized G&A) to be $26 million. Operating expense to be in range of $20.50 /boe to $22.00/boe. Based on this capital budget and production forecast, The company anticipates achieving annual average production growth of 5% over 2017 (adjusted for divested production), while spending within forecast adjusted EBITDAX. Based on the capital budget outlined and higher forecast adjusted EBITDAX due to a more heavily weighted oil program, Prairie Provident's year-end 2018 long-term debt is expected to be approximately $58 million (net of cash collateralized for letters of credit) on a total current credit facility of approximately $70 million.
The company expects production guidance to be in range of 5,200 boe/d to 5,600 boe/d for the year 2018.