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Cardium Operator Spending 75% More in 2017; $70 Million
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Bonterra Energy has detailed its 2017 operational and financial budget.
Key Points: $70 million capex (up 75% from 2016's capex of $40 million 100% focus on Pembina Cardium area Production guidance of 13,000 and 13,500 BOEPD (5% increase over 2016) No drilling / wells plans releasedBonterra has set its 2017 capital expenditures budget at approximately $70 million which will largely be directed to new wells and facility upgrades primarily in the Pembina Cardium area. Given Bonterra's low corporate production decline rate of approximately 19 percent, the 2017 capital budget is anticipated to increase average annual production by approximately five percent over 2016, with volumes expected to range between 13,000 and 13,500 BOE per day.
Bonterra's 2017 forecasted funds flow is…
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