Seven Generations Energy Ltd. announced production results for the fourth quarter and full year ended December 31, 2019. For the quarter, the company reported condensate production of 75.0 mbbl/d against 81.8 mbbl/d a year ago. Other NGLs production of 45.9 mbbl/d against 47.4 mbbl/d a year ago. Shale gas production of 492.4 MMcf/d against 480.9 MMcf/d a year ago. Conventional natural gas production of 30.7 MMcf/d against 34.5 MMcf/d a year ago. Total production 208.1 mboe/d against 215.1 mboe/d a year ago.

For the year, the company reported condensate production of 74.8 mbbl/d against 76.4 mbbl/d a year ago. Other NGLs production of 44.4 mbbl/d against 44.4 mbbl/d a year ago. Shale gas production of 469.1 MMcf/d against 454.0 MMcf/d a year ago. Conventional natural gas production of 33.9 MMcf/d against 36.5 MMcf/d a year ago. Total production 203.0 mboe/d against 202.6 mboe/d a year ago.

The company provided production guidance for the first half, second half and full year of 2020. Consistent with prior guidance, the company anticipates production volumes in the first half of the year to be lower than the second half, primarily as offset wells are routinely shut-in during adjacent completion operations.

The resumption of production from these wells, and volumes from newly completed wells, are anticipated to bring production to the 205,000 to 215,000 boe/d range for the second half of the year.

The company's 2020 capital budget and guidance are unchanged from previously disclosed metrics, including $1.0 billion of production and supporting infrastructure capital primarily to sustain annual production levels at 200,000 to 205,000 boe/d and a further $100 million for value enhancement projects and delineation. At the midpoint of guidance, full year production is anticipated to average 202,500 boe/d.