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TORC Unveils $165MM Budget for 2018; Talks Saskatchewan, Cardium Drilling Plans

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   |    Tuesday,December 12,2017

TORC Oil & Gas recently reported its preliminary 2018 budget and production guidance. Highlights include:

2018 Capex: $165 million (D&C Budget of $132 million)

  • Southeast Saskatchewan: 77% of D&C budget, $101.6 million
  • Cardium: 23% of D&C budget, $30.4 million
2018 Production Guidance: 23,000 boe/d (87% light oil and liquids)

Southeast Saskatchewan Plans:

Conventional - $39.6 million

  • TORC plans to allocate ~30% of its drilling and completion budget to its conventional Southeast Saskatchewan assets. Planned activity includes plans to drill 44 gross (37.2 net) wells.

Unconventional - Torquay / Three Forks - $39.6 million

  • TORC plans to allocate ~30% of its drilling and completion budget to its unconventional Southeast Saskatchewan Torquay/Three Forks assets. Planned activity includes plans to drill 17 gross (13.5 net) wells

Unconventional - Midale - $22.4 million

  • TORC plans to allocate ~$22.4 million from its drilling and completion budget to its unconventional Southeast Saskatchewan Midale assets. Planned activity includes plans to drill 12 gross (11 net) wells

Cardium Plans: $30.4 million

  • TORC plans to allocate ~23% of its drilling and completion budget to its Cardium assets in order to maintaing production. The company plans to drill 12 gross (10.5 net) wells.
In addition to its drilling plans, TORC's 2018 production guidance is for 23,000 boe/d.


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