Coastal Energy Guides for 2013 ......................... .................................... ...........................
http://news.coastalenergy.com/releasedetail.cfm?ReleaseID=723085
- The Company expects total company production to average 33,000 boepd (net to Coastal) for the full year. This estimate includes 27,000 bopd from offshore Thailand, 2,300 boepd onshore Thailand and net production from Malaysia averaging 3,700 bopd (Production expected to begin in early Q3).
- The Company expects operating expenses to average approximately $19.00 per bbl offshore Thailand, well below 2012 levels as the Company realizes a full year of facilities purchases for its Thailand operations.
- Total capital expenditures are expected to be approximately $315MM, down from the estimated $360MM in 2012. 2012 capital expenditures were largely driven by substantial facilities purchases which will be significantly lower in 2013. The reduction in facilities expenditures is offset largely by the doubling of drilling capex as the Company adds a second drilling rig for the full year. The Company is also expecting to incur higher than average capex onshore in Thailand due to the beginning of pipeline construction and the development drilling at the Dong Mun field. The breakdown of the Company's capex budget is $200MM offshore Thailand, $40MM onshore Thailand and $75MM Malaysia.
also this.....
The Company also disclosed that it had been in discussions with Pertamina about a potential transaction, but those discussions have ended.
Said Mr. Bartley, "We are always evaluating our strategic alternatives, and we will continue to do so, but we will not undertake any transaction unless we believe it will deliver more value than our highly successful current strategy of organic growth." |
