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Athabasca Oil Corp 2016 Budget, Guidance Finalized
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Athabasca Oil Corporation has announced that its Board of Directors has approved a 2016 capital budget of $91 million.
2016 Capital Budget and Production Guidance Athabasca's 2016 capital budget of $91 million is centered on capital management which will allow the Company to strategically advance its core assets. Based on this level of capital spending, Athabasca is targeting average corporate production of 16,000 - 18,000 boe/d in 2016. This includes Hangingstone ramping up to design capacity towards the end of the year and maintaining 2015 exit volumes within Light Oil following the completion of the 2015/16 winter program. Light Oil Division In the Light Oil Division, Athabasca commenced drilling operations for the winter 2015/16 program in September and has allocated $71 million…- ✓ Full news archive — U.S., Canada & international coverage
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