Dundee Energy Limited Announces Financial and Operating Results for the First Quarter Ended March 31, 2016; Provides CapEx Guidance for 2016
Production volumes during the first quarter of 2016 averaged 10,872 Mcf/d of natural gas and 490 bbls/d of oil and liquids compared to 11,620 Mcf/d of natural gas and 533 bbls/d of oil and liquids for the year ago period.
In response to declining commodity prices for both crude oil and natural gas, the Corporation's work plan for 2016 was set at $0.8 million and consists of costs to maintain the existing and essential land portfolio.