Marquee Energy Ltd. Reports Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2017; Provides Capital Budget for the Second Half of 2017; Provides Production Guidance for the Year 2017
For the quarter, the company's production averaged 2,479 boe/d (46% liquids), down 79 boe/d (3%) from the fourth quarter 2016.
For the second half of 2017, the Board of Directors approved a capital budget of approximately $15 million.
For the year 2017, the production growth is expected to increase the company's oil and liquids weighting and reduce corporate unit operating costs generating an expected improvement of field netbacks by more than 40%.