Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program | Capital Expenditure - 2018
TORC Unveils $165MM Budget for 2018; Talks Saskatchewan, Cardium Drilling Plans
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.
Related Categories :
Capital Expenditure - 2018
More Capital Expenditure - 2018 News
-
Range Resources Spends $20MM Less than Expected in 2018
-
Canada Well Forecast for 2019 Will Fall 20% Year over Year -
-
QEP Ups 2018 Capex for More Permian Wells, Williston Refracs; Minimal Output Growth
-
Approach Defers Completion in Q3; Will Spend Less than Expected in 2018
-
SRC IDs 22% YOY Output Growth in Q3; Adds Second Completion Crew, Ups Capex
Canada News >>>
-
Petrus Resources Ltd. First Quarter 2023 Results
-
Cardinal Energy Ltd. First Quarter 2023 Results
-
Headwater Exploration Inc. First Quarter 2023 Results -
-
Rubellite Energy Inc. First Quarter 2023 Results
-
Bonterra Eneergy Corporation First Quarter 2023 Results