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E&P Plans To Drill & Complete 480-630 Wells In 2016
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Crescent Point Energy Corp. has reported its capital expenditures plans for 2016.
Highlights: Capital Budget: $950 million to $1.3 billion Drilling & Development capital: $808 million to $1.067 billion (84%) Facilities, Land & Seismic: $142-233 million Production range of 165,000 boe/d to 172,000 boe/d 480 to 630 net wells planned 2016 Budget Allocation: Viewfield Bakken: 23% Shaunavon: 18% Flat Lake / Midale: 16% SE Saskatchewan Conventional: 10% Viking: 11% Uinta Basin: 7% Other: 15%Crescent Point expects to spend between $950 million and $1.3 billion to target an annual average production range of 165,000 boe/d to 172,000 boe/d in 2016. This represents an average production increase of approximately one to five percent compared to 2015 guidance and a decrease in planned capital…
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