Eagle Energy Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2017; Revised Financial Guidance for the Full Year of 2017
For the full year of 2017, the company revised its guidance to capital budget of CAD 21.0 million and average production of 3,700 boe per day to 3,900 boe/d compared to previous guidance capital budget of CAD 22.8 and average production of 3,800 boe per day to 4,000 boe per day. 2017 funds flow from operations is expected to be approximately CAD 10.7 million (previously CAD 15.2 million) based on the following assumptions: average production of 3,800 boe per day (the mid-point of the revised guidance range) and ending net debt of CAD 69.4 million.