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Montney Operator Ups 2017 Capex to $1.6B; Up Over 50% YOY
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Seven Generations Energy invested less than $1 billion in its 2016 capital program, compared to the company's forecast of $1.05 to $1.1 billion.
2017 Estimate: 7G expects to produce 180,000 to 190,000 boe/d in 2017 with capital investments of $1.5 billion to $1.6 billion (this is ~55% increase from 2016).This reduced capital investment resulted in lower than forecast fourth quarter production, which is now expected to result in 2016 average production of about 117,500 barrels of oil equivalent per day (boe/d), compared to 2016 production guidance of 120,000 to 125,000 boe/d. Corporate liquids yields for 2016 remain at the high end of the 55 to 60 percent guidance range.
Marty Proctor, 7G's President & Chief Operating Officer, said: "Production in 2016 was 95 percent higher than in…
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More Capital Expenditure - 2017 News
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Kelt Expects 86.2% CapEx Growth from 2017 to 2018
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Murphy Increases 2017 Capex by $50MM; Brought Online 27 Eagle Ford Wells
[Summary: Murphy Oil released its Q3 results and highlights include: North American on shore production was 86 mboe/d Increased its FY 2017 capex guidance $50 million to $940…
Canada News
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