Forecast - Production | Capital Markets | Capital Expenditure | Capex Decrease | Capital Expenditure - 2019
Arc Resources Cuts 2019 Budget by $75MM; IDs Preliminary 2020 Capex
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ARC Resources Ltd. has reduced its 2019 capital expenditure program, from $775 million to $700 million - a reduction of -10%.
CEO Myron Stadnyk cited the reason as lower commodity prices: "At this time, we feel it is appropriate to slow down the pace of development due to reduced commodity prices."
ARC's 2019 production guidance of 135,000 to 142,000 boe per day remains unchanged despite the reduction in capital expenditures.
The reduction to the 2019 capital program relates to the deferral of the Attachie West Phase I gas processing and liquids-handling facility.
IDs 2020 Budget - ~15% Lower Than 2019
2020 capital expenditures are expected to be in the range of $550 million to $625 million.
Related Categories :
Capex Decrease
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