Torc Oil & Gas Ltd. Reports Production Results for the Third Quarter and Nine Months Ended December 31, 2019; Provides Production Guidance for the Year 2020
For the quarter, the company reported production of crude oil of 23,507 Bbls per day against 20,943 Bbls per day a year ago. NGL was 1,556 Bbls per day against 1,365 Bbls per day a year ago. Natural gas was 19,588 Mcf per day against 18,183 Mcf per day a year ago. Barrels of oil equivalent was 28,328 Boepd, 6:1 against 25,339 Boepd, 6:1 a year ago.
For the year 2020, the company expects high netback production average of 28,500 and exit of 28,500 boepd, total proved plus probable reserves greater than 139 mmboe (84% light oil & liquids).