Exploration & Production | Finance & Investing | Capital Markets | Capital Expenditure
Chinook to Drill Four Dunvegan Wells in 1Q16; Talks Budget
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Chinook Energy Inc. announced that its Board of Directors has approved a $13 million capital program for the first half of 2016. Chinook also announced its amended credit facility following the completion of the semi-annual review of its facility by its bank syndicate.
First Half 2016 Capital ProgramChinook's capital program for the first half of 2016 includes $8 million to drill, complete, equip and tie-in four (3.5 net) Dunvegan oil wells at Albright in the Grande Prairie area commencing in the first quarter, with anticipated production by April or May 2016. These four wells were previously deferred from our 2015 capital program as we accelerated the development of our Montney program at Birley/Umbach. Chinook currently has an estimated inventory of over 55 (38 net) Dunvegan drilling…
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