Well Cost | Production Rates | Hedging | EOR | Capital Markets | Capital Expenditure - 2017
Granite Oil Continues EOR Strategy with 10 Bakken Wells Planned
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Granite Oil Corp announced its budget and guidance for 2017.
2017 BudgetBased on an average WTI oil price of $55 US, Granite's capital program and dividend obligations will be fully funded by internally generated funds from operations.
Annual average production volumes of approximately 3,050 bbl/d oil, representing an eight percent year over year growth;Capital expenditures of approximately $16.5 million, consisting of:
$13.5 million of development capital put towards the drilling and completion of 10, 100% working interest, EOR-specific Bakken horizontal wells, and continued EOR expansion through the conversion of three additional producing wells to gas injection wells; and $3.0 million of exploration capital put towards the drilling of high-priority exploration targets; Top-tier…- ✓ Full news archive — U.S., Canada & international coverage
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