March 12 (Reuters) - Pipestone Energy Corp PIPE.V :
* PIPESTONE ENERGY CORP. ANNOUNCES AN OPERATIONS UPDATE AND A 60% REDUCTION TO 2020 CAPITAL GUIDANCE ACCOMPANIED BY A <10% REDUCTION TO 2020 PRODUCTION GUIDANCE TO 17,000 - 18,000 BOE/D
* PIPESTONE ENERGY - RESPONDED TO DECLINE IN OIL PRICES BY MATERIALLY DECREASING 2020 CAPITAL SPENDING WITH MINIMAL IMPACT TO FY PRODUCTION GUIDANCE
* PIPESTONE ENERGY CORP - REDUCING ITS FORECASTED 2020 CAPITAL SPENDING PROGRAM FROM $145 - $155 MILLION TO $55 - $65 MILLION
* PIPESTONE ENERGY - MODEST CHANGE TO 2020 PRODUCTION GUIDANCE FROM 18,000 - 20,000 BOE/D TO 17,000 - 18,000 BOE/D
* PIPESTONE ENERGY CORP - FY EXIT PRODUCTION GUIDANCE REDUCED FROM 20,000 - 22,000 BOE/D TO 16,000 - 17,000 BOE/D
* PIPESTONE ENERGY CORP - HAS ABOUT 3,200 BBL/D OF CAD DENOMINATED WTI OIL HEDGED AT ABOUT C$79 PER BARREL DURING H1 2020
* PIPESTONE ENERGY CORP - DEVELOPMENT IN 2020 CONCENTRATED IN AREAS WITH HIGHEST PROJECTED CONDENSATE CONTENT, DELIVERABILITY
* PIPESTONE ENERGY CORP - DURING 2020, CO WILL BRING 12 NEW WELLS ON PRODUCTION FROM 2 PADS
* PIPESTONE ENERGY CORP - ONCE DRILLING HAS FINISHED ON 6-30 PAD NEXT WEEK, CO PLANS TO SUSPEND DRILLING OPERATIONS
* PIPESTONE ENERGY - AS OF DEC. 31, 2019, WAS DRAWN ABOUT $163 MILLION ON RESERVE BASED LOAN, HAD ADJUSTED WORKING CAPITAL (INCL. CASH) DEFICIT OF $6 MILLION
* PIPESTONE ENERGY CORP - NOW HAS A NET DRAW OF APPROXIMATELY $153 MILLION ON ITS RBL