UPDATE: Longview Edges Up From Yr Lows As Announces 2013 Guidance

By Midnight Trader,  December 13, 2012, 10:11:04 AM EDT

Longview Oil Corp. (LNV.TO), which fell 2.5% to year lows Wednesday, has edged up today as it announced that the board of directors has approved operational guidance and a capital budget of $36 million for the year ending December 31, 2013.

It said: "Consistent with our business strategy, we have developed a sustainable and balanced 2013 budget that will preserve a strong balance sheet while utilizing funds from operations to maintain our current dividend policy and fund substantially all of our capital expenditures while maintaining production at 2012 levels. Longview has a base decline rate of approximately 19% which allows the company to maintain production with a modest level of capital expenditures."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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