Exploration & Production | Capital Markets | Capital Expenditure
Lighstream to Drill 90 Cardium, Swan Hills Wells in 2014
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Lightstream Resources Ltd. has announced our strategic plan and 2014 capital program and production guidance.
Strategic PlanExecuting on our 2014 capital program of $525-575 million (65% focused on drilling and completions) while maintaining production levels similar to 2013. This capital plan represents a decrease of approximately 25% from estimated 2013 capital spending and 42% from 2012 levels. Notwithstanding this significant decrease in capital, we expect our production levels to remain relatively flat to 2013. We intend to execute a relatively balanced capital plan between the first and second half of 2014.
Targeting over $600 million of non-core asset sales by the end of 2015 and applying the proceeds to reduce debt levels. Provided market conditions are acceptable, our goal is to…
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