Exploration & Production | Capital Markets | Capital Expenditure
Crocotta's Capital Budget For 2014 Focuses on Cardium
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Crocotta Energy Inc. has announced 2014 Guidance.
Capital Program and GuidanceCrocotta has approved a budget that entails spending approximately $110 million in 2014 with the focus on Cardium oil at Edson, Bluesky liquids-rich gas at Edson, and Montney liquids-rich gas at Dawson. The budget will be spent approximately 45% in the first half of the year and 55% in the second half and be flexible to allow Crocotta to maintain its strong financial position.
Crocotta estimates average 2014 production to be 10,000 boepd (27% oil and natural gas liquids and 73% natural gas) with exit 2014 production of 11,000 - 11,500 boepd. Crocotta estimates Q114 will be approximately 9,400 boepd with Q214 averaging approximately 10,000 boepd. Q114 average production is affected by the temporary shut-in of a…
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