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Montney E&P Bumps Up Spending Nearly 50% for 2017
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ARC Resources has approved a $665 million capital program for 2017 (a 48% increase over Arc's spending in 2016 ($450MM)).
Key Points: Spend $665 million (~48% more than 2016) Drill 103 (101.4 net) wells (~38% more than 2016's 77 (71 net) in 2016 2017 annual average production target of 128,000 to 133,000 boe per day. Expanded 2017 DetailsARC's $665 million 2017 capital program is focused on maximizing long-term value by directing capital investment to projects with the most favourable rates of return, including strategic infrastructure and a mix of crude oil, liquids-rich natural gas and natural gas development opportunities. ARC plans to drill approximately 103 gross operated wells (101.4 net) in 2017, with 66 wells focused on crude oil, 23 wells focused on liquids-rich natural…
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