Capital Markets | Capital Expenditure
Angle Energy 2012 Cardium Budget ; Production Guidance
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2012 CAPITAL PROGRAM AND GUIDANCE
Angle's 2012 capital expenditure program reflects the Company’s focus on the highest rate of return projects in the development portfolio, oriented to light oil and condensate. The majority of Angle’s capital focus involves two projects: Cardium light oil and Mannville condensate/light oil. The budget includes $169 million in total capital, of which $152.2 million is allocated to drill 42 gross (39 net) wells and related completion, equipping and tie in activities.
Capital is expected to be allocated to our core areas as follows:
Harmattan and Lone Pine Creek: Cardium (light oil), Mannville (liquids-rich gas and light oil) - 34.5 net wells - $134 million or 88% of development capital expenditure budget. Ferrier and Edson: Cardium (light oil)…- ✓ Full news archive — U.S., Canada & international coverage
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