Cequence Gunnell Wells To Be Shut In

摘要

Cequence Energy Ltd. says that based on the continued weakness in natural gas prices the operator of its wells in the Gunnell area of northeastern British Columbia intends to shut in production beginning Sept. 21. Cequence's production in the area is approximately three mmcf per day of natural gas. The company believes that the decision to shut in production from the Gunnell area is an economically prudent decision given the current commodity pricing environment and will add long term value to the Cequence shareholders. The estimated cash flow impact of the shut-in is approximately $130,000 per month using current natural gas prices of $3.50 per mcf.