NuVista Energy Ltd. Reports Production Results for the Second Quarter and Six Months Ended June 30, 2019; Provides Production Guidance Third Quarter and Full Year of 2019
For the six months, the company reported production of natural gas of 170.0 MMcf/d against 130.5 MMcf/d a year ago. Condensate & oil was 13,858 Bbls/d against 11,537 Bbls/d a year ago. NGLs was 4,947 Bbls/d against 2,781 Bbls/d a year ago. Total was 47,133 Boe/d against 36,067 Boe/d a year ago.
The company provided that production for the third quarter of 2019 is expected to be in the range of 49,000 to 52,000 Boe/d including a quarterly average of approximately 600 Boe/d of third party planned and unplanned downtime which has already occurred in July.
The company provided that 2019 production guidance is unchanged at 51,000 to 54,000 Boe/d as is capital spending at $300 to $325 million. The compAny is directing both capital and production toward the lower end of the range and expect to keep capital spending within 110% of adjusted funds flow at July 8 strip prices.