Reuters logo
2 months ago
BRIEF-TAG Oil says ‍average net daily production rose 3 pct for qtr ended March 31, 2017
June 29, 2017 / 1:22 PM / 2 months ago

BRIEF-TAG Oil says ‍average net daily production rose 3 pct for qtr ended March 31, 2017

June 29 (Reuters) - TAG Oil Ltd:

* TAG Oil reports FY2017 results

* Says ‍average net daily production increased by 3% for quarter ended march 31, 2017, to 1,218 boe/d​

* Says ‍revenue from oil and gas sales increased by 4% for quarter ended march 31, 2017, to $6.3 million​

* TAG Oil Ltd says capital budget for fy2018 is $27.4 million, which is projected to be funded entirely by forecasted cash flow and working capital on hand

* Says estimating fy2018 revenue from operations will be $28 million, with production averaging approximately 1,400 boe/d

* Says expects to exit fy2018 with production of approximately 1,900 boe/d

* Says should oil prices remain significantly below us$55 per bbl for any length of time, tag oil may reduce its capital program Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below