Forecast - Production | Capital Markets | Capital Expenditure | Drilling Program - Wells | Drilling Activity | Drilling Program
Birchcliff Drops Down 2016 Capex to $128MM; 13 Wells Planned
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Birchcliff Energy Ltd. has reduced its planned capital expenditures for 2016 by $12 million to $128 million, down from $140 million under Birchcliff’s original capital program, while maintaining its annual average production guidance of 40,000 to 41,000 boe per day.
Key Points: New Capex of $128 million (down from $140 million originally planned) 13 net wells to drill (12 Montney/Doig, 1 Charlie Lake) Maintaining guidance at 40,000 to 41,000 boe per day 2016 Capital ExpendituresOn January 21, 2016, Birchcliff announced its capital expenditure program for 2016 of $140 million, which included the drilling of 15 (15.0 net) wells. With capital expenditures of $140 million, Birchcliff estimated annual average production for 2016 to be 40,000 to 41,000 boe per day.
Birchcliff’s 2016…
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