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Baytex Planning 35-40 Eagle Ford Wells for 2016
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Baytex Energy Corp. reported that its Board of Directors has approved a 2016 capital budget of $325 to $400 million, which is designed to generate average annual production of 74,000 to 78,000 boe/d.
Our 2016 capital budget has been structured to ensure maximum flexibility with respect to both the timing and level of spend.
Exploration & Development Capital : $325-$400 Million Production Guidance : 74,000 - 78,000 BOE/d Eagle Ford : We expect to bring approximately 35 to 40 net wells on production in 2016. At Peace River, our capital budget includes drilling 12 net horizontal multi-lateral wells and 6 net stratigraphic and service wells. At Lloydminster, we plan to drill 24 net wells, of which approximately 70% will be horizontal wells. - We are targeting capital expenditures to…- ✓ Full news archive — U.S., Canada & international coverage
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