Exploration & Production | Operational Updates | Capital Markets | Capital Expenditure
Bonterra Drops 2016 Capex to $40 Million; Updates 4Q Ops
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Bonterra Energy Corp. announced its 2016 capital budget, an operations update, and an adjustment to its dividend level to $0.10 per share commencing with the December 2015 dividend payable January 29, 2016.
With the recent further deterioration in commodity prices, Bonterra is proactively making capital allocation decisions to ensure the Company is able to maintain its financial strength and long-term strategic objectives.
Based on current commodity prices, Bonterra will take the following steps to position the Company to withstand lower prices for a longer period:
Set its capital expenditures budget for 2016 at approximately $40 million compared to the 2015 capital budget of $58 million and the 2014 budget of $140 million. Given Bonterra's low corporate production decline rate of…- ✓ Full news archive — U.S., Canada & international coverage
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