RMP Energy Inc. is pleased to provide a production and operations update.
Third Quarter 2015 Production
For the third quarter of 2015, RMP's average daily production was approximately 11,000 boe/d (weighted 47% light oil and NGLs). As previously disclosed, the Company's third quarter production was impacted by: i) a shutdown of the Alliance pipeline system on August 7, 2015, resulting in the shut-in of substantially all of RMP's production for approximately one week; ii) a mechanical disruption at the Company's Waskahigan oil battery for a seven day period in early-July; iii) and ongoing third-party gas transportation restrictions causing material, uneconomic gas pricing which resulted in RMP deliberately shutting-in its Kaybob Montney field for the better part of the third quarter. The Kaybob field is expected to resume production upon improved realized gas prices resulting from increased pipeline capacity on the TCPL gas system. The Company is reaffirming its previously-announced fiscal 2015 production guidance, with expectations to produce on average for the year, approximately 12,000 boe/d (weighted 45% oil and NGLs).