Storm Resources Ltd. Reports Production Results for the First Quarter Ended March 31, 2020; Provides Production Guidance for the Second Quarter of 2020; Revises Production Guidance for the Fourth Quarter and Full Year 2020
Production in the second quarter of 2020 is forecast to average 23,000 to 25,000 Boe per day with capital investment expected to be less than $3 million.
The company now expects production for the fourth quarter of 25,000 - 28,000 Boe/d compared to previous guidance of 25,000 - 30,000 Boe/d and liquids production of 5,100 - 5,600 Bbls/d compared to previous guidance of 5,300 - 6,300 Bbls/d.
The company now expects annual production of 23,500 - 26,000 Boe/d compared to previous guidance of 23,500 - 26,000 Boe/d and liquids production of 4,500 - 5,000 Bbls/d compared to previous guidance of 4,900 - 5,500 Bbls/d.