New Marquee will remain focused on maintaining a clean balance sheet and has the ability to adjust its capital program and growth plans based on the prevailing commodity price environment, with a view to maintaining a net debt to cashflow ratio of less than 2.0 to 1.0. Over the past 24 months, Marquee has drilled and placed on production 18 horizontal wells in the Michichi area of Alberta. Based on the expected well production profiles and cost structure of its recent wells, Marquee estimates a 1.4 year payout for a typical Michichi horizontal well, generating returns in excess of 50%, based on current strip pricing. Michichi wells finding and development costs average approximately $10 per boe, which ranks in the top quartile relative to competing resource plays. Marquee believes that its recent cost reduction efforts, coupled with the industry’s deflationary cost environment, will create opportunities for further operating and capital cost reductions through realization of infrastructure and land and development synergies, the application of continually improving drilling and completion techniques, and scalability of drilling programs. Read More Alberta Oilsands, after adjustment for the expected transaction costs associated with the Arrangement, is anticipated to have $30.5 million of net cash, or approximately $0.14 per basic share. Alberta Oilsands also holds 44,000 acres of bitumen leases in the Athabasca oil sands region of northeast Alberta. Alberta Oilsands expects that the Ministry of Mines and Energy of the Republic of Namibia will approve the full relinquishment of Blocks 2712A and 2812A and with such relinquishment, Alberta Oilsands will no longer have any assets or obligations in Africa. Based on internally identified locations. The Marquee management team, led by Richard Thompson, President and Chief Executive Officer, will manage New Marquee.
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We will initially focus on providing emergent neurology, psychiatry and intensive care physician services to our health system customers. Our physicians are experienced telehealth providers from leading private and academic medical centers. This effort addresses the physician shortage in these subspecialties that our customers are facing. InTouch Health also announces the hiring of Lee A. Wood as the General Manager and Executive Vice President of the InTouch Physician Services division. In this role he will lead the building and scaling of this operation, by offering multi-specialty physician services to InTouchs Telehealth Network customers of more than 1,500 hospital locations. Mr. Wood brings more than 20 years of experience in physician services management, go to the website finance, and business development where he spent the past decade in leadership roles with MEDNAX ( MD ). Im very pleased to be leading this opportunity to significantly improve our healthcare delivery system and bring added value to the InTouch Health services portfolio, stated Mr. Wood. As part of launching our InTouch Physicians Services division, Im thrilled to announce the acquisition of AcuteCare Telemedicine (ACT). ACT was founded in 2009 by four highly experienced tele-neurologists: Matthews W.
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