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Athabasca Ups Montney, Duvernay Spending for 2020; Flat Production
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Athabasca Oil Corp. has detailed its capital plans for 2020.
While overall spending will be down 7% YOY, Athabasca is ramping up spending 71% at its light oil properties, which focus on the Montney and Duvernay.
In prior years, the company was working to de-risk its Duvernay position. It now plans to ramp up drilling after receiving its appraisal.
Its thermal oil spending will be down 20% YOY.
Production is set to be relatively flat YOY, coming in at 36-37.5 MBOEPD.
2020 Details 2020 Budget Guidance Sustaining Capital – Expenditures of $125 million focused on resiliency by executing a program aimed at sustaining production within projected funds flow. Production – Production to average between 36,000 – 37,500 boe/d (88% liquids). Thermal Oil Activity – Expenditures of $65 million…- ✓ Full news archive — U.S., Canada & international coverage
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