Cequence Energy Ltd. Reports Production Results for the Quarter Ended March 31, 2020; Reports Impairment Charge for the Quarter Ended March 31, 2020; Announced No Guidance for the Year 2020
The company reported non-cash impairment charge of $109,870,000 for the quarter ended March 31, 2020.
The company announced that it is not providing an outlook for 2020 due to the decrease in crude oil prices, continuing price volatility, the economic effects of COVID-19 and concerns of a global economic slowdown.