Eagle Energy Inc. revised capital budget and production guidance for the year 2016. The company's board has approved a revised 2016 capital budget of $5.0 million from $10.2 million (revised to $3 million for its operations in the United States and $0.8 million for its operations in Canada, previously $7 million for its operations in the United States and $0.9 million for its operations in Canada).

Despite this reduction, 2016 production guidance has been reduced by only 5%. The company intended to remain disciplined by managing capital expenditures and maintaining target project economics based on current realized commodity prices.