Exploration & Production | Capital Markets | Capital Expenditure
Contango Outlines Diverse 2014 Capital Program, Well Plans
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Contango Oil & Gas Company has detailed its preliminary 2014 capital program.
2014 Capital ProgramOur capital expenditure budget for 2014 is currently forecasted at approximately $216 million, and is expected to be funded primarily from internally generated cash flow. Our plans include the drilling of 47 gross wells (28 net), compared to $109 million in capital expenditures (excluding producing property acquisitions) and 20 gross wells, (12 net) drilled in calendar year 2013 on an as-combined basis. Expenditures planned for 2014 include:
Woodbine – We forecast capital expenditures of approximately $89 million in Madison and Grimes counties to drill 19-20 wells. We currently anticipate 11 wells in our Force area, six wells in our Chalktown area and two wells in our Iola / Grimes area…- ✓ Full news archive — U.S., Canada & international coverage
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