Parex’s has increased its capital budget to range between US$80 mm and US$100 mm for 2016e. The Company is now planning to drill 6.0 (5.3 net) exploration wells in the Llanos Basin and between 3.0 and 10 (2.5 and 6.0 net) exploration and appraisal wells in the Middle Magdalena Basin. The Company’s production guidance remains unchanged at 29,000 bbl/d in 2016e. However, with the resumption of drilling that has commenced in May 2016, there is increased potential for production growth. Our target p ....
11 May 2016
Increases the 2016 Capital Budget with 1Q16 Results
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Increases the 2016 Capital Budget with 1Q16 Results
Parex Resources Inc. (PXT:TSE) | 0 0 1.1% | Mkt Cap: 2,763m
- Published:
11 May 2016 -
Author:
Darren B. Engels -
Pages:
8
Parex’s has increased its capital budget to range between US$80 mm and US$100 mm for 2016e. The Company is now planning to drill 6.0 (5.3 net) exploration wells in the Llanos Basin and between 3.0 and 10 (2.5 and 6.0 net) exploration and appraisal wells in the Middle Magdalena Basin. The Company’s production guidance remains unchanged at 29,000 bbl/d in 2016e. However, with the resumption of drilling that has commenced in May 2016, there is increased potential for production growth. Our target p ....