Exploration & Production | Capital Markets | Capital Expenditure
Baytex Plans 201 Wells for 2014; 15 in North Dakota Bakken
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Baytex Energy Corp. has announced that its Board of Directors has approved a 2014 capital budget of $485 million for exploration and development activities.
This capital budget is designed to generate an average production rate of 60,000 to 62,000 boe/d.
James Bowzer, President and Chief Executive Officer, said: "This budget continues our focus on oil weighted production growth. Based on the mid-point of the production guidance ranges for 2013 and 2014, our 2014 plan reflects a production growth rate of 6% for oil equivalent volumes."
2014 Capital Budget Highlights Our 2014 capital budget includes the drilling of 201 net wells, of which 156 will target crude oil, three will target natural gas and 42 will be stratigraphic and service wells. Our 2014 stratigraphic and service well program…- ✓ Full news archive — U.S., Canada & international coverage
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