Exploration & Production | Capital Markets | Capital Expenditure
Legacy Plans Williston, Spearfish Progress in 2013 CapEx
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Legacy Oil + Gas Inc. has reported its capital and operating budget and associated public guidance for 2013.
Continued success in the Company's dominant position in the Spearfish play in southern Manitoba and North Dakota and in its assets in the Williston Basin has added significantly to its drilling inventory. These areas, along with Turner Valley, will play key roles in 2013 organic activity and growth.
Legacy expects to spend $290 million in 2013 focused on light oil development with the majority of capital (81 percent) directed to drilling, completions and tie-ins. This capital spending is 12 percent lower than 2011 capital spending and 6 percent lower than 2012 forecast capital spending as a result of continued improvements in capital efficiencies. The capital spending is…
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