Fourth quarter production came in ahead of our estimate on slightly lower spending, with 21 net wells brought on stream during the fourth quarter. The 2016e capital budget will see $50 mm of E&D spending, a 90% decrease from 2015e levels as Management works towards living within cash flow at current commodity prices. Production is anticipated to drop to a range of 60,000-64,000 boe/d in 2016e, down
considerably from the 2015e average of 86,250 boe/d, a portion of which is related to ongoing dis ....
29 Jan 2016
Penn West Announces Operational Update, 2016e Capital Budget, and Provides Full Year Guidance
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Penn West Announces Operational Update, 2016e Capital Budget, and Provides Full Year Guidance
Fourth quarter production came in ahead of our estimate on slightly lower spending, with 21 net wells brought on stream during the fourth quarter. The 2016e capital budget will see $50 mm of E&D spending, a 90% decrease from 2015e levels as Management works towards living within cash flow at current commodity prices. Production is anticipated to drop to a range of 60,000-64,000 boe/d in 2016e, down
considerably from the 2015e average of 86,250 boe/d, a portion of which is related to ongoing dis ....