March 20, 2020 / 9:10 PM / 12 days ago

BRIEF-Maha Energy Says Co Revises 2020 Capital Program

March 20 (Reuters) - Maha Energy AB:

* 2020 PRODUCTION GUIDANCE REMAIN UNCHANGED

* REVISIONS TO ITS 2020 CAPITAL PROGRAM IN RESPONSE TO RECENT COMMODITY PRICE VOLATILITY

* PLAN TO CONTINUE OPERATING AT REDUCED ACTIVITY LEVELS UNTIL THERE ARE CLEAR SIGNS OF A RECOVERY IN OIL PRICES

* MAHA ENERGY- REDUCTION IN CAPITAL PROGRAM FROM US$20.7 MILLION TO $12 MILLION-$13 MILLION WITH A FURTHER CUT OF $4.8 MILLION POSSIBLE, IF FUTURE CONDITIONS DICTATE

* MAHA ENERGY- 2020 CAPITAL BUDGET IS REVISED TO MAINTENANCE RANGE OF $8 MILLION TO $12 MILLION AND FURTHER REDUCTIONS IN OPERATING COSTS ARE BEING IMPLEMENTED

* CONTINGENT MAHA-2 WELL AT TARTARUGA WILL NOW BE POSTPONED UNTIL 2021

* WILL REDUCE 2020 CAPITAL BUDGET BY SOME US$ 8.3 MILLION Source text for Eikon: Further company coverage:

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