Capital Markets | Capital Expenditure | Drilling Activity | Capital Expenditure - 2020 | 2020 Guidance
Advantage's 2020 Budget Down -18% Year over Year
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Advantage Oil & Gas Ltd. has detailed its 2020 capital plan.
The plan sees YOY spending cut by 18% while production aims at meager 3% growth compared to 2019.
The D&C spending accounts for 65% of the total budget with Facilities taking up the remaining 35%. Capital spending is expected to be highest in the first and third quarters of 2020 aligned with infrastructure construction timing.
No drilling plans were disclosed, but the company will be focusing on its Progress and Pipestone / Wembley light oil assets.
2020 OverviewKey objectives for 2020:
Increase liquids revenue to approximately 35% of total revenue in 2020 and approximately 50% in 2021. Liquids production is expected to achieve a year-end exit rate of approximately 9,000 bbls/d. In light of the low Alberta gas storage…- ✓ Full news archive — U.S., Canada & international coverage
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