SUNDANCE ENERGY AUSTRALIA LIMITED PROVIDES 2017 CAPITAL EXPENDITURE BUDGET AND 2016 FULL YEAR & Q4 PRODUCTION; ANNOUNCES BORROWING BASE IS REAFFIRMED AT $67 MILLION

DENVER, Feb 2 (Bernama-GLOBE NEWSWIRE) -- Sundance Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, estimates its 2017 capital expenditures will range between $80 and $88 million. Furthermore, the Company’s daily production rate for the full year of 2016 and fourth quarter was approximately 6,400 and 7,900 barrels of oil equivalent per day (BOED) respectively.

2016 Full Year & Q4 Capital Expenditures

During 2016, the Company had total capital expenditures of $84 million, of which it spent $43 million on drilling and completions, $14 million on facilities and field infrastructure projects, $23 million on acquisitions and $4 million on leasing. Of this total $19 million was expended in the fourth quarter.  These expenditures were funded with internally generated cash flow, proceeds from the equity offering in mid-2016 and the $7 million received from assets divested in the fourth quarter. 

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