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Legacy Oil + Gas Lowers Capex by $56 MM
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Legacy Oil + Gas Inc. has announced it has filed on SEDAR its audited financial statements and related Management's Discussion and Analysis for the year ended December 31, 2014 as well as its annual information form for the year ended December 31, 2014.
2015 Capital BudgetLegacy now expects to spend $182 million on capital expenditures in 2015, which is equal to the anticipated cash flow that would be generated at average oil pricing of US$53 per barrel WTI and a 0.80 CDN/US dollar average exchange rate for 2015.
Legacy is planning to drill 72 gross (60.2 net) wells in 2015 targeting high quality light oil. In addition to drilling, the Company is planning capital expenditures on expansion of the successful pilot waterfloods at Frys, Heward, Pierson, Steelman and Taylorton, as well as…
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