Forecast - Production | Capital Markets | Capital Expenditure | Capital Expenditure - 2017
Canadian E&P Spending 54% More in 2017; $85 Million
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Surge Energy has approved an upward revision to the Company's previously announced 2017 preliminary production guidance.
Key Points: 2017 Capex of $85 million (unchanged from previous guidance) - this is a +54% increase from Surge's 2016 capex of $55 million Increased production guidance of 14,000 BOEPD (up slightly from 13,650 BOEPD)Based on continued successful development drilling results at the Company's Shaunavon, Sparky and Valhalla core areas, combined with ongoing waterflood activities, Surge is now increasing its 2017 production guidance as set forth below, with no corresponding increase to capital expenditures.
The Company's 2017 $85 million capital expenditure program and increased production growth estimates are set forth below - at a US $55 WTI per barrel pricing…
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